01:06 PM EDT, 08/08/2024 (MT Newswires) -- Bausch Health's ( BHC ) plan to spinoff its eye-care unit Bausch + Lomb is stalled due to a disagreement between major shareholders and debtholders, the Wall Street Journal reported Thursday, citing sources with knowledge of the details.

Top shareholders, including Carl Icahn and Paulson, favor a spinoff, but are at odds with creditors who are advocating for a bankruptcy filing to address the company's financial issues and a $22 billion debt restructuring, the WSJ reported.

The company, however, is exploring alternatives to complete the spinoff to its shareholders without resorting to bankruptcy, according to the report.

Bausch Health ( BHC ) did not immediately respond to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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