This Week
  • Siblings Bradley Calkins and Katherine Lindahl are co-CEOs of Rochester Midland.

  • Kelby Russell wants you to know: Local wines are among the world's finest.

  • The number of temporary help employees locally has grown since the recession.

  • Employee cross-training has become essential for organizations to run smoothly.

  • P3 Systems Inc. sells and services new and refurbished networking equipment.

  • Challenges mount for area companies that do business in Russia.

Reports: B&L hires banks for IPO

Rochester Business Journal
March 1, 2013

The owner of Bausch & Lomb Inc. reportedly has selected the banks that will lead a planned initial public offering of the Rochester-based eye-care firm.

Bloomberg and Thomson Reuters on Friday cited unnamed sources who said private-equity firm Warburg Pincus LLC had chosen JPMorgan Chase & Co. to lead the IPO, which could raise as much as $1.5 billion and is expected to value Bausch and Lomb at $9 billion to $10 billion.

Thomson Reuters also reported that Bank of America Merrill Lynch and Citigroup would be involved in the transaction.

Bausch & Lomb representatives declined to comment.

Warburg Pincus bought Bausch & Lomb for $3.7 billion in September 2007, taking the longtime publicly traded company private.

According to reports late last year, Warburg Pincus had hired investment bank Goldman Sachs Group Inc. to explore opportunities to sell the eye-care company. But recently its plans have shifted back to an IPO.

Warburg paid some $3.8 billion for Bausch & Lomb five years ago.

In a lengthy interview with the Rochester Business Journal last July, Bausch & Lomb CEO Brent Saunders said an IPO was more likely than a sale.
 
"We don't spend a great deal of time thinking about an IPO or when that might happen," he said. "We do think about returning to the public market at some point. ... We've maintained all the governance and formalities of a public company."

 (c) 2013 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or e-mail service@rbj.net.
 


What You're Saying 

There are no comments yet. Be the first to add yours!

Post Your Own Comment

 
Username:
Password:

Not registered? Sign up now!
 

To Do   Text Size
Post CommentPost A Comment eMail Size1
View CommentsView All Comments PrintPrint Size2
ReprintsReprints Size3
  • E-mailed
  • Commented
  • Viewed
RBJ   Google