CA0717051076 - Common Stock
Bausch + Lomb said it authorized management and advisers to explore a potential sale of the eye health company after shares dropped over reports of faltering deal talks with a group of private equity firms.
Banks and private credit firms are competing to provide at least $5 billion of debt financing to help fund a potential buyout of Bausch + Lomb, according to people with knowledge of the matter.
It was quite a busy and eventful day for the company.
Bausch Health Cos. is working with Jefferies Financial Group to explore refinancing some of its debt to aid a long-planned spinoff of its stake in the eye-care company Bausch + Lomb, according to people with knowledge of the situation.
The highly indebted healthcare stock rose on rumors it may be selling itself.
Bausch + Lomb is reportedly considering a sale. But its potential acquirers could come up against antitrust concerns.
Bausch + Lomb Corp. shares rose the most ever following a report that the eye-care company is considering selling itself to disentangle from its debt-laden parent company.