Bausch + Lomb Explores Sale Options Amid Reports of Potential Acquisition
Bausch + Lomb, a leading contact lens supplier, has announced that it is exploring potential sale options, among other alternatives. The company’s statement comes in response to a request from the Canadian Investment Regulatory Organization (CIRO) following a series of media reports on its likely sale.
The Financial Times reported on October 14 that private equity firms TPG and Blackstone were working on a joint bid to take the company private for up to $11.5 billion, including debt. This news sent Bausch + Lomb’s shares surging over 37% before the newspaper reported earlier this week that Blackstone’s interest had cooled, leading to a sharp fall in the company’s stock price.
A sale of Bausch + Lomb could mark the end of a long process by its parent company, Bausch Health, to offload its stake in the eyecare company. In 2022, Bausch Health separated the business into a new publicly listed company but retained a majority stake.
Bausch + Lomb, which is led by dealmaker Saunders, is one of the world’s largest contact lens suppliers and also produces surgical devices, prescription drugs, and generic eye products. The company’s CEO has a reputation for making significant deals, having previously led Allergan before it was sold to AbbVie for $63 billion.
