Valeant Puts Up $8.7B For PE-Backed Bausch & Lomb

Law360, New York (May 28, 2013, 1:10 PM EDT) -- Private equity-backed eye care company Bausch & Lomb Holdings Inc. on Monday signed off on an $8.7 billion deal to fold itself into Valeant Pharmaceuticals International Inc., opting for the sale instead of an initial public offering that had been on the table since last year.

Under the terms of the deal, Valeant will fork over $4.5 billion to an investor group led by Warburg Pincus LLC, plus another $4.2 billion earmarked for paying down Bausch & Lomb's debt. Valeant, a Canadian company, will cover its...
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