08:58 AM EDT, 10/14/2024 (MT Newswires) -- (Updates with Bausch + Lomb's ( BLCO ) response in the seventh paragraph.)

TPG (TPG) and Blackstone (BX) have teamed up on a joint bid for eye care firm Bausch + Lomb ( BLCO ) , The Financial Times reported on Monday, citing people familiar with the matter.

The report said that if successful, the deal could be one of the largest private equity buyouts of the year.

Several other private equity funds have withdrawn from the process.

The sources told the Financial Times that the offers are expected to value the company between $13 billion and $14 billion, or up to $25 per share.

Formal bids are anticipated by the end of the month, but a deal may still not materialize, the people added.

The report said Bausch + Lomb ( BLCO ) is being sold to resolve issues with its heavily indebted parent, Bausch Health. It added that Goldman Sachs is managing the sale process to resolve conflicts between shareholders and creditors due to concerns that a spin-off could leave Bausch Health insolvent with its $21 billion debt.

Bausch + Lomb ( BLCO ) declined to comment, while Blackstone, TPG, and Goldman did not immediately respond to MT Newswires' requests for comment.

(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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