Company Acquire: In Face with So Many Suitors, Bausch & Lomb Will Belong to Whom?
According to Bloomberg, the private drug and device company Bausch & Lomb Company, which is owned by private equity Warburg Pincus, recently was fiercely chased by many giants, such as by Abbott Laboratories (ABT), Johnson & Johnson (JNJ), Sanofi and others.
Warburg, working with Goldman Sachs Group Inc., is giving interested parties access to its financial data and seeking first-round bids by month’s end. Warburg is seeking $10 billion or more for the business, which is 12 to 13 times more than the business it projected to rake in during 2013 as it invested $1.7 billion in Bausch & Lomb.
Bausch & Lomb is an eye care company, whose products include contact lenses and eye-care solution.
Not only so, other parties considering bids and receiving confidential financial information on Bausch & Lomb include Merck & Co. and Pfizer Inc. (PFE), someone said. Representatives at Merck and Pfizer declined to comment. Does they will be other suitors and who will finally successfully acquire Bausch & Lomb?