The sale of Bausch & Lomb could generate at least $10bn for private equity owner Warburg Pincus, with major players such as Johnson & Johnson, Sanofi, and Abbott Laboratories said to be interested in the same. According to a report by Bloomberg News, Warburg is seeking first-round bids by end-January, and is already been providing access to the eye-care firm’s financial data.
The report, which cited unnamed sources, said Goldman Sachs (which is helping organise the sale) contacted some prospective bidders before Christmas. The sources added that other firms considering bids include Pfizer and Merck.
Warburg took Bausch & Lomb private in 2007 in a deal valued at $4.6bn, including debt. The report said the private equity firm had also considered an IPO, and will take another look at the plans if the first bids fail to match its expectations.
Bausch & Lomb has three different businesses – pharmaceuticals (40% of sales), vision care (40%) and surgical (20%). Around 40% of its sales are generated in North America, with 33% coming from Europe, and the rest from Asia and Latin America.
NamNews - Friday 4th January 2013