Bausch + Lomb Corporation (BLCO) shares soared over 7% on Monday following reports that private equity giants Blackstone (BX) and TPG (TPG) are considering a joint bid to acquire the eyecare company. According to the Financial Times, the potential deal could value the company between $13 billion and $14 billion, translating to as much as $25 per share. Bausch + Lomb has declined to comment on the report.
This possible bid follows last month’s news that Bausch + Lomb was working with Goldman Sachs (GS) to explore a separation from its heavily indebted parent company, Bausch Health Cos. (BHC), from which it was spun off in 2022. Formal offers for the eyecare maker are expected by the end of the month.
Bausch + Lombโs stock price climbed to $20.95 in early trading on Monday and has risen about 23% since the start of 2024.