Never let it be said that Valeant (NYSE: VRX) management is shy about
doing deals. With a roster of past deals including Biovail, Cephalon,
OraPharma, and Medicis, Valeant claims that better than 80% of its deals
have attained the 20% internal return target it uses to evaluate
potential transactions. If rumors out Friday prove true, Valeant is
about to bag its biggest target yet in what would be a particularly bold
move.
Multiple sources have reported (or repeated) rumors that Bausch + Lomb's
private equity owners Warburg Pincus are near a deal to sell the eye
care giant to Valeant in a deal worth close to $9 billion. That Bausch
& Lomb is on the block is well known – Warburg Pincus hired Goldman
Sachs back in December of 2012 to assist them, and reportedly approached
companies including Sanofi (NYSE:SNY), GlaxoSmithKline (NYSE:GSK), and Abbott (NYSE:ABT)
without getting any takers on the then-reported price tag of $10
billion. At that point, Warburg Pincus reportedly began considering an
IPO of Bausch & Lomb to cash out of a company it originally acquired
for $4.5 billion.
Please read more here:
http://www.massdevice.com/blogs/massdevice/valeant-about-make-bold-bid-bausch-lomb
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