Three suitors for Bausch + Lomb

 

According to specialized news website Bloomberg, Abbott Laboratories, Johnson & Johnson and Sanofi are in the running to acquire Bausch + Lomb, which Warburg Pincus LLC is seeking to sell. Merck & Co and Pfizer have also shown interest in the company, according to Bloomberg, which has quoted anonymous sources.

 

Warburg expects to receive the first-round bids by the end of January, and is said to be seeking at least $10 billion. Such a transaction would be the third biggest sale ever by a private-equity-controlled company. The company had paid about $4.6 billion in 2007 for Bausch + Lomb, an acquisition that included debt. Since then, its earnings before interest, taxes, depreciation and amortization have risen from $400 million to just under $700 million. Its 2013 projected earnings are about $800 million.

 

Bausch + Lomb’s businesses are pharmaceuticals, vision care and surgical. About 40% of its sales come from North America, 33% from Europe and the rest from Asia and Latin America. Its Canadian head office is located in Vaughan, Ontario.

Source:

http://www.bloomberg.com/news/2013-01-03/abbott-j-j-sanofi-said-to-show-interest-in-bausch-lomb-bid.html

 

 

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