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Justin Sullivan/Getty Images News Bausch + Lomb ( NYSE: BLCO ) is up ~13% in Monday morning trading following a report that came out Sept. 14 that the eye care company is interested in a sale. B+L is said to be interested in potential buyers to appease lenders who have expressed concerns over its planned full separation from Bausch Health ( NYSE: BHC ), per a report in the Financial Times .
Although B+L has traded on its own since 2022, Bausch Health still retains an 88% stake. A slew of creditors, including Apollo Global Management and Elliott Management, have argued that Bausch Health's plan to exchange its B+L shares for Bausch Health shares could negatively impact Bausch's balance sheet. Bausch currently has ~$21B in debt.
The stock is up ~5% Monday morning If a B+L sale happens, it would likely placate two of Bausch's largest shareholders, funds run by Carl Icahn and John Paulson. More on Bausch Health, Bausch + Lomb Bausch Health Companies (BHC) Q2 2024 Earnings Call Transcript Bausch Health Companies Inc. 2024 Q2 - Results - Earnings Call Presentation Bausch + Lomb Corporation 2024 Q2 - Results - Earnings Call Presentation Biggest stock movers today: AAPL, DJT, INTC, BLCO and more Bausch + Lomb reportedly exploring sale to handle Bausch Health spinoff.
