Bausch + Lomb Shares Fall After Citigroup Downgrade, Blackstone's Reported Exit From Takeover Bid

MT Newswires Live

2024-12-12

Bausch + Lomb (BLCO) shares fell nearly 14% in recent Wednesday trading after Citigroup downgraded the company's stock to neutral from buy.

On Wednesday, the Financial Times reported that Blackstone (BX) has decided not to proceed with a joint takeover bid for Bausch + Lomb. The report said that Blackstone, which initially partnered with TPG (TPG) in October to explore a bid, backed out due to high price expectations from the seller.

Also on Wednesday, Bausch + Lomb said that its affiliate has bought Elios Vision.

Price: 17.82, Change: -2.83, Percent Change: -13.70

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