Advanced Medical Optics investor Gamco denies being 'acquiring person'

By Lisa Kerner

Charlotte, N.C., Feb. 9 - Gamco Investors Inc. said it is not the beneficial owner of 15% or more of Advanced Medical Optics, Inc.'s outstanding common stock and if Gamco did become an "acquiring person" under the company's rights agreement, it did so inadvertently.

The investor made its claim in a Feb. 5 letter to Advanced Medical Optics included in a schedule 13D/A filed with the Securities and Exchange Commission.

Gamco was not the beneficial owner of 15% or more of the outstanding common stock because the sole voting and dispositive power with respect to approximately 2.5 million shares was exercised by the independent proxy voting committees of the registered investment companies within the Gamco/Gabelli family of funds that hold the ownership of those shares, the filing said.

The investor intends to tender its clients' shares in Abbott Laboratories' offer for Advanced Medical Optics or otherwise divest any excess shares "as promptly as practicable," Gamco's letter said.

On Jan. 12, Abbott announced it would acquire Advanced Medical Optics for $2.8 billion, including net debt, in a $22-per-share cash tender offer that ends on Feb. 24.

Abbott is a biopharmaceutical company located in Abbott Park, Ill.

Santa Ana, Calif.-based Advanced Medical Optics operates in three segments: cataract surgery, Lasik and eye-care products.

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