Bausch & Lomb: Key Partner in Joint Takeover's Interest Reportedly Cools, Spooking Investors

The Financial Times reported on Dec. 10, 2024, that Blackstone's interest in making a bid for the narrow-moat Bausch & Lomb has cooled. It was reported in October that Blackstone joined TPG to explore submitting a joint bid for Bausch at the potential offer of $25 per share, or about $14 billion in enterprise value, but it now looks like Blackstone believes the price tag is too high for the target. The same news source also noted that a deal could still progress if Bausch were willing to accept a lower price or TPG teams up with a different partner for a joint bid.