Bausch + Lomb Stock Pops as TPG, Blackstone Consider Joint Bid
Key Takeaways
- Bausch + Lomb shares surged Monday following reports Blackstone and TPG are considering teaming up to buy the eyecare company.
- A bid from Blackstone and TPG could reportedly value the company between $13 billion and $14 billion.
- Formal bids for the eyecare maker are expected by the end of the month.
Bausch + Lomb Corporation (BLCO) shares popped Monday morning following reports Blackstone (BX) and TPG (TPG) are considering teaming up to buy the eyecare company.
A bid from Blackstone and TPG could value the company between $13 billion and $14 billion, or as much as $25 per share, the Financial Times reported. Bausch + Lomb declined to comment on the report.
The potential joint bid comes after a report last month that Bausch + Lomb was working with Goldman Sachs (GS) on a deal that would see it separated from its severely indebted parent Bausch Health Cos. (BHC). Bausch + Lomb was spun off from Bausch Health in 2022.
Formal bids for the eyecare maker are expected to come by the end of the month.
Shares of Bausch + Lomb jumped more than 7% in early trading Monday to $20.95, and have gained about 23% since the start of the year.
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