B&L declines offer to go private, continues to explore sale options
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Bausch + Lomb Corp. has ended talks with a potential buyer interested in taking the company private, but the business said it will continue with plans to fully separate from its parent company.
Bausch + Lomb issued an update Thursday on a potential sale, which was disclosed in December following a regulatory request from the Canadian Investment Regulatory Organization. In a statement, the company said:
“Taking Bausch + Lomb private with a third-party buyer was one of several options being explored to complete a full separation from Bausch Health Companies Inc. After engagement with potential buyers, that process is complete, and will not result in a transaction at this time.”
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It continued, “Full separation remains the goal. Bausch + Lomb continues to operate as its own entity and execute on its strategies and business plan.”
The company, which raised 2024 revenue guidance on Oct. 30, will report fourth-quarter and full-year 2024 earnings on Feb. 19, in addition to providing guidance for the 2025 fiscal year.
Bausch + Lomb (NYSE/TSX: BLCO) is traded on both the New York Stock Exchange and Toronto Stock Exchange.
The company has roughly 13,000 employees and a presence in nearly 100 countries. It is headquartered in Vaughan, Ontario, with corporate offices in Bridgewater, New Jersey.
Bausch + Lomb ranked sixth on the most recent RBJ list of manufacturers with 1,168 local workers at the end of 2024, down 8 percent year-over-year.
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