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Why Bausch Health BHC Plunged

The potential spin off delay is sending investors running today. Understandably their patience is running low and they feel strung along for years. Then today the plan gets modified and basically extended till 2022 (although Joe would not confirm that at this point).

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Instead of two companies now Joe is saying BHC will be split into 3 companies. Why do I get the feeling that 4, 5, or even 6 companies being divested would be the next step... Anyway, still a great value here but investors are tired of waiting. If they couldn't see the value of splitting into two businesses, why would they see more value splitting into 3 (or more).

$BHC, Bausch Health Companies Inc. / H1

notes via a user

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