Monday, May 14, 2007

ValueAct Capital Accumulates 7.3% Stake in Advanced Medical Optics (EYE)

In a 13D filing after the close Friday on Advanced Medical Optics Inc. (NYSE: EYE), ValueAct Capital disclosed a 7.3% (4.4 million shares) in the company. The firm did not show a stake in EYE for the quarter ended 12/31/06.

In a pretty standard disclosure, the firm said they reserve the right to formulate other plans and/or make other proposals, and take such actions with respect to their investment in the Issuer, including any or all of the actions set forth in paragraphs (a) through (j) of Item 4 of Schedule 13D, or acquire additional Common Stock or dispose of all the Common Stock beneficially owned by them, in the publicmarket or privately negotiated transactions.
Advanced Medical Optics develops advanced vision technologies. The company's product lines include cataract/implant, laser vision correction, and eye care.
ValueAct Capital looks for deep-value situations and was most-recently a big winner related to its position in Reuters (Nasdaq: RTRSY), which is in a possible merger deal with Thomson (NYSE: TOC).

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