Icahn Entities Amend Bausch Health Stake Filing
Ticker: BHC · Form: SC 13D/A · Filed: Aug 19, 2024 · CIK: 885590
Sentiment: neutral
Topics: activist-investor, amendment, filing-update
Related Tickers: BHC
TL;DR
Icahn's crew updated their Bausch Health filing on 8/19. Still watching.
AI Summary
Carl C. Icahn, through various entities including Icahn Capital LP and Icahn Enterprises Holdings L.P., has amended their Schedule 13D filing regarding Bausch Health Companies Inc. as of August 19, 2024. The filing indicates a significant stake in the company, with the group members listed as BECKTON CORP., ICAHN CAPITAL LP, ICAHN ENTERPRISES G.P. INC., ICAHN ENTERPRISES HOLDINGS L.P., ICAHN OFFSHORE LP, ICAHN ONSHORE LP, ICAHN PARTNERS LP, ICAHN PARTNERS MASTER FUND LP, and IPH GP LLC.
Why It Matters
This amendment signals ongoing activity and potential strategic interest from a major activist investor in Bausch Health Companies Inc., which could influence the company's future direction.
Risk Assessment
Risk Level: medium — Amendments to 13D filings by activist investors like Carl Icahn can signal potential changes in strategy or governance for the subject company.
Key Players & Entities
- Carl C. Icahn (person) — Activist investor filing the amendment
- Bausch Health Companies Inc. (company) — Subject company of the filing
- Icahn Capital LP (company) — Group member filing the amendment
- Icahn Enterprises Holdings L.P. (company) — Group member filing the amendment
- BECKTON CORP. (company) — Group member filing the amendment
- ICAHN ENTERPRISES G.P. INC. (company) — Group member filing the amendment
- ICAHN OFFSHORE LP (company) — Group member filing the amendment
- ICAHN ONSHORE LP (company) — Group member filing the amendment
- ICAHN PARTNERS LP (company) — Group member filing the amendment
- ICAHN PARTNERS MASTER FUND LP (company) — Group member filing the amendment
FAQ
What is the primary purpose of this SC 13D/A filing?
This filing is an amendment to a Schedule 13D, indicating changes or updates to the information previously reported by the filing persons regarding their beneficial ownership of Bausch Health Companies Inc. securities.
Who are the main entities filing this amendment?
The filing lists Carl C. Icahn and several associated entities including BECKTON CORP., ICAHN CAPITAL LP, ICAHN ENTERPRISES G.P. INC., ICAHN ENTERPRISES HOLDINGS L.P., ICAHN OFFSHORE LP, ICAHN ONSHORE LP, ICAHN PARTNERS LP, ICAHN PARTNERS MASTER FUND LP, and IPH GP LLC.
What is the subject company of this filing?
The subject company is Bausch Health Companies Inc., with Central Index Key 0000885590.
When was this filing made?
The filing was made on August 19, 2024.
What was Bausch Health Companies Inc. formerly known as?
Bausch Health Companies Inc. was formerly known as Valeant Pharmaceuticals International, Inc. (name change effective September 28, 2010), BIOVAIL Corp (name change effective April 16, 2010), and BIOVAIL CORP INTERNATIONAL (name change effective May 22, 1996).
Filing Stats: 771 words · 3 min read · ~3 pages · Grade level 9.8 · Accepted 2024-08-19 17:48:41
Key Financial Figures
- $1.5 million — requiring it to pay a civil penalty of $1.5 million and to cease and desist from violations
- $500,000 — requiring him to pay a civil penalty of $500,000 and to cease and desist from committing
Filing Documents
- tm2421713d2_sc13da.htm (SC 13D/A) — 16KB
- 0001104659-24-090925.txt ( ) — 19KB
Identity and Background
Item 2. Identity and Background
of the Schedule 13D is hereby amended and
Item 2 of the Schedule 13D is hereby amended and supplemented as follows: On August 19, 2024, Icahn Enterprises L.P. (“IEP”) and Carl C. Icahn entered into settlement agreements with the SEC, in connection with its inquiry previously disclosed by IEP. In connection with that settlement, the SEC entered an order in an administrative proceeding that contains non-scienter based findings that IEP failed to disclose in its Forms 10-K for the years 2018, 2019 and 2020 that Mr. Icahn pledged IEP securities as collateral to secure personal margin loans as required by Item 403(b) of Regulation S-K. The order relating to Mr. Icahn contains non-scienter based findings that, while Mr. Icahn’s prior Schedule 13D filings generally disclosed that he had pledged IEP depository units as collateral for personal margin loans, subsequent Schedule 13D filings were not amended to describe loan agreements and amendments to loan agreements or to attach guarantees as required by Items 6 and 7 of Schedule 13D. Without admitting or denying the SEC’s allegations (other than with respect to the SEC’s jurisdiction), under the terms of the settlements, (i) IEP consented to the entry of an order requiring it to pay a civil penalty of $1.5 million and to cease and desist from violations and any future violations of Section 13(a) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and Rule 13a-1 thereunder, and (ii) Mr. Icahn consented to the entry of an order requiring him to pay a civil penalty of $500,000 and to cease and desist from committing or causing any violations of Section 13(d)(2) of the Exchange Act and Rule 13d-2(a) thereunder. SIGNATURE After reasonable inquiry and to the best of each of the undersigned knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct. Dated: August 19, 2024 ICAHN PARTNERS MASTER FUND LP ICAHN OFFSHORE LP ICAHN PAR