Carl Icahn Shows New 7.83% Stake in Bausch Health Companies (BHC)

February 11, 2021 5:27 PM EST

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In a 13D filing on Bausch Health Companies (NYSE: BHC), hedge fund Carl Icahn disclosed a 7.83%, or 27,807,410 share, stake in the company. The firm did not hold shares at the end of the latest quarter. Icahn views shares as undervalued.

Item 4. Purpose of Transaction

The Reporting Persons acquired their positions in the Shares in the belief that the Shares were undervalued. The Reporting Persons intend to engage in discussions with representatives of the Issuer's management and board of directors regarding ways to enhance shareholder value, including the Issuer’s ongoing strategic review. Such discussions may also include possible board representation. We also expect to have discussions with other shareholders to understand their perspectives.

  • The Reporting Persons are considering all their options and, while they have no present plan to do so (except as otherwise disclosed in this Item 4), they reserve the right and are considering whether to propose other transactions which relate to or would result in one or more of the actions specified in clauses (a) through (j) of Item 4 of Schedule 13D.
  • The Reporting Persons may, from time to time and at any time: (i) acquire additional Shares and/or other equity, debt, notes, instruments or other securities of the Issuer and/or its affiliates (collectively, "Securities") in the open market or otherwise; (ii) dispose of any or all of their Securities in the open market or otherwise; or (iii) engage in any hedging or similar transactions with respect to the Securities.
The following table sets forth all transactions with respect to Shares effected during the past sixty (60) days by any of the Reporting Persons. Except as otherwise noted below, all such transactions were purchases of Shares effected in the open market, and the table includes commissions paid in per share prices.
Name of Reporting Person
Date of Transaction
Amount of Securities
Price Per Share ($)
Icahn Partners LP
12/14/2020
299,693
20.76
Icahn Partners LP
12/15/2020
275,876
20.65
Icahn Partners LP
12/16/2020
210,898
20.88
Icahn Partners LP
12/17/2020
295,026
20.91
Icahn Partners LP
12/18/2020
291,883
20.85
Icahn Partners LP
12/21/2020
214,515
20.66
Icahn Partners LP
12/23/2020
72,738
20.15
Icahn Partners LP
12/24/2020
19,354
20.27
Icahn Partners LP
12/28/2020
13,156
20.38
Icahn Partners LP
01/04/2021
98,162 (1)
4.36 (2)
Icahn Partners LP
01/05/2021
166,310 (1)
4.59 (2)
Icahn Partners LP
01/06/2021
224,499 (1)
5.69 (2)
Icahn Partners LP
01/07/2021
144,544 (1)
5.77 (2)
Icahn Partners LP
01/08/2021
252,147 (1)
6.30 (2)
Icahn Partners LP
01/11/2021
192,762 (1)
6.32 (2)
Icahn Partners LP
01/12/2021
292,328 (1)
6.55 (2)
Icahn Partners LP
01/13/2021
1,109,659 (1)
8.34 (2)
Icahn Partners LP
01/14/2021
701,583 (1)
9.30 (2)
Icahn Partners LP
01/15/2021
404,152 (1)
9.21 (2)
Icahn Partners LP
01/19/2021
6,536 (1)
9.81 (2)
Icahn Partners LP
01/20/2021
231,019 (1)
9.94 (2)
Icahn Partners LP
01/21/2021
584,653 (1)
9.67 (2)
Icahn Partners LP
01/22/2021
271,527 (1)
9.67 (2)
Icahn Partners LP
01/25/2021
764,725 (1)
9.74 (2)
Icahn Partners LP
01/26/2021
204,630 (1)
9.57 (2)
Icahn Partners LP
01/27/2021
1,138,839 (1)
8.32 (2)
Icahn Partners LP
01/28/2021
315,116 (1)
8.42 (2)
Icahn Partners LP
01/29/2021
315,127 (1)
8.59 (2)
Icahn Partners LP
02/01/2021
263,094 (1)
8.88 (2)
Icahn Partners LP
02/02/2021
584,653 (1)
9.82 (2)
Icahn Partners LP
02/03/2021
749,644 (1)
10.21 (2)
Icahn Partners LP
02/04/2021
730,723 (1)
10.45 (2)
Icahn Partners LP
02/05/2021
584,579 (1)
10.95 (2)
Icahn Partners LP
02/08/2021
438,441 (1)
11.66 (2)
Icahn Partners LP
02/09/2021
876,868 (1)
12.03 (2)
Icahn Partners LP
02/10/2021
584,579 (1)
12.35 (2)
Icahn Partners LP
02/11/2021
1,081,804 (1)
12.66 (2)
Icahn Partners Master Fund LP
12/14/2020
212,863
20.76
Icahn Partners Master Fund LP
12/15/2020
195,941
20.65
Icahn Partners Master Fund LP
12/16/2020
149,794
20.88
Icahn Partners Master Fund LP
12/17/2020
209,538
20.91
Icahn Partners Master Fund LP
12/18/2020
207,316
20.85
Icahn Partners Master Fund LP
12/21/2020
152,360
20.66
Icahn Partners Master Fund LP
12/23/2020
51,662
20.15
Icahn Partners Master Fund LP
12/24/2020
13,746
20.27
Icahn Partners Master Fund LP
12/28/2020
9,344
20.38
Icahn Partners Master Fund LP
01/04/2021
69,719 (1)
4.36 (2)
Icahn Partners Master Fund LP
01/05/2021
118,645 (1)
4.59 (2)
Icahn Partners Master Fund LP
01/06/2021
159,487 (1)
5.69 (2)
Icahn Partners Master Fund LP
01/07/2021
102,686 (1)
5.77 (2)
Icahn Partners Master Fund LP
01/08/2021
179,129 (1)
6.30 (2)
Icahn Partners Master Fund LP
01/11/2021
136,940 (1)
6.32 (2)
Icahn Partners Master Fund LP
01/12/2021
207,672 (1)
6.55 (2)
Icahn Partners Master Fund LP
01/13/2021
788,320 (1)
8.34 (2)
Icahn Partners Master Fund LP
01/14/2021
498,417 (1)
9.30 (2)
Icahn Partners Master Fund LP
01/15/2021
287,116 (1)
9.21 (2)
Icahn Partners Master Fund LP
01/19/2021
4,643 (1)
9.81 (2)
Icahn Partners Master Fund LP
01/20/2021
164,121 (1)
9.94 (2)
Icahn Partners Master Fund LP
01/21/2021
415,347 (1)
9.67 (2)
Icahn Partners Master Fund LP
01/22/2021
192,896 (1)
9.67 (2)
Icahn Partners Master Fund LP
01/25/2021
543,275 (1)
9.74 (2)
Icahn Partners Master Fund LP
01/26/2021
145,370 (1)
9.57 (2)
Icahn Partners Master Fund LP
01/27/2021
809,051 (1)
8.32 (2)
Icahn Partners Master Fund LP
01/28/2021
223,863 (1)
8.42 (2)
Icahn Partners Master Fund LP
01/29/2021
223,873 (1)
8.59 (2)
Icahn Partners Master Fund LP
02/01/2021
186,906 (1)
8.88 (2)
Icahn Partners Master Fund LP
02/02/2021
415,347 (1)
9.82 (2)
Icahn Partners Master Fund LP
02/03/2021
535,162 (1)
10.21 (2)
Icahn Partners Master Fund LP
02/04/2021
519,277 (1)
10.45 (2)
Icahn Partners Master Fund LP
02/05/2021
415,421 (1)
10.95 (2)
Icahn Partners Master Fund LP
02/08/2021
311,559 (1)
11.66 (2)
Icahn Partners Master Fund LP
02/09/2021
623,132 (1)
12.03 (2)
Icahn Partners Master Fund LP
02/10/2021
415,421 (1)
12.35 (2)
Icahn Partners Master Fund LP
02/11/2021
768,765 (1)
12.66 (2)
1.
Represents Shares to be acquired pursuant to a forward contract. These forward contracts expire on December 23, 2022.
2.
Represents the amount per Share the Reporting Person paid the counterparty to the forward contract upon entering into such forward contract. The forward price is $17.00 per Share. The forward price is subject to adjustment to account for any dividends or other distributions declared by the Issuer. In addition, the Reporting Persons paid a financing charge to the counterparty to such forward contract.

For more notable holders of Bausch Health Companies stock click here. For more information on Carl Icahn click here.



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