Bausch & Lomb Corp

BLCO: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$56.00	Kbvxrq	Kbhcnkws

Bausch & Lomb: Eyes Potential Sale and Excites Investors; Shares Surge

Keonhee Kim

Sep 16, 2024

The Financial Times reported on Sept. 14 that Bausch & Lomb is working with advisors to explore a sale. Bausch & Lomb went public in 2022 but is still about 88% owned by its parent company, Bausch Health, and the full separation was supposed to take place with necessary approvals once Bausch Health reached certain leverage targets. At the end of June, Bausch Health had over $20 billion in debt ($15.7 billion excluding Bausch & Lomb’s debt) with a trailing 12-month adjusted EBITDA of around $3.1 billion ($2.4 billion excluding Bausch & Lomb), putting the firm’s leverage ratio at about 6.4.

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