(Reuters) -Bausch + Lomb said on Monday Brett Icahn and Gary Hu have resigned from its board of directors after the termination of the agreement with billionaire Carl Icahn and some of his affiliates.

The agreement, dated June 21, 2022, ended after the Icahn group's net long position in Bausch Health Companies, Bausch + Lomb's parent, fell below the required threshold.

On Friday, Bausch Health said Paulson Capital, along with certain affiliates and managed funds, increased their position in the company and acquired about 34.7 million common shares previously held by the Icahn Group.

In April, Carl Icahn had built an economic interest covering about 34% of Bausch Health's shares.