Bausch & Lomb has announced the acquisition of Ista Pharmaceuticals (NASDAQ: ISTA) for $9.10 per share in cash, equating to a purchase price of approximately $500 million. The price per share represents a 9% premium to Ista’s closing share price of $8.38 per share on March 26th, before public announcement of the deal. Once the transaction formally closes and completes all necessary regulatory requirements, including customary closing conditions and the approval of Ista’s shareholders, it will bring to an end a six-month corporate battle to maximize shareholder value.