Banks and private credit firms are competing to provide at least $5B of debt financing to help fund a potential buyout of Bausch + Lomb (BLCO), Jeannine Amodeo, Gowri Gurumurthy and Paula Seligson of Bloomberg report, citing people with knowledge of the matter. A takeover could give the company a valuation of at least $10B including debt, sources told Bloomberg. Bausch + Lomb has been exploring a sale and private equity firms TPG (TPG) and Blackstone (BX) have been working on a joint bid, the sources added. Shares of Bausch + Lomb are down 1% to $20.40 in afternoon trading.
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