Why Bausch Health Companies Stock Rocketed 11% Higher Today
On a down Monday for the stock market, Bausch Health Companies (NYSE: BHC) shares rose at a double-digit rate. Investors, cheered by news of a fresh company acquisition, pushed its stock price up by more than 11% on the day.
Well before market open, Bausch announced that its Solta Medical aesthetics unit closed a deal to acquire China's Wuhan Shibo Zhenmei Technology. Wuhan is a distributor of Solta's products, so the arrangement effectively moves distribution in-house for the unit.
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Source Fool.com
