Bausch + Lomb Corporation's shares saw a significant increase on Monday following speculative reports that financial giants Blackstone and TPG are reportedly mulling over joining forces to acquire the eyecare company. According to these reports, their combined bid could place the company's worth between $13 billion to $14 billion, potentially up to $25 per share. However, Bausch + Lomb remains silent, refusing to comment on the report.
This potential collective bid news trails a report from last month indicating that Bausch + Lomb was in talks with Goldman Sachs to separate from its financially struggling parent company, Bausch Health Cos. The eyecare manufacturer was initially spun off from the parent company in 2022.
Industry insiders are anticipating formal bids for the eyecare company before the month's end. The company's stocks made incredible strides Monday morning, skyrocketing by over 7% to $20.95 per share. This comes after an impressive performance since the beginning of the year with a surge of approximately 23%.