Private equity firms TPG (TPG) and Blackstone (BX) are collaborating on a bid for Bausch + Lomb (BLCO, Financial). In pre-market trading, shares of Bausch + Lomb rose by 11.86%, reaching $21.78. The acquisition offer is anticipated to be between $13 billion and $14 billion, which translates to approximately $25 per share. Official acquisition proposals are expected by the end of the month.
Several other private equity firms, initially considering bids, have withdrawn from the process. Back in September, sources revealed that firms like Blackstone, Advent International, TPG Capital, CVC Capital, and Hellman & Friedman were evaluating potential offers for the eye care company.
Bausch + Lomb is contemplating a sale to address concerns from lenders, such as Apollo Global Management, regarding its planned separation from parent company Bausch Health. The lenders have raised questions about the potential impact of this separation on the parent company's balance sheet.
