Valeant Acquires PE-Backed Bausch + Lomb for $8.7B

Montréal-based Valeant Pharmaceuticals International Inc. has agreed to buy eye care specialist Bausch + Lomb Holdings Inc. from U.S. private equity firm Warburg Pincus, which acquired the Rochester, New York-based company in 2007. The agreement, which has been approved by the directors of both companies, provides that Valeant will pay US$8.7 billion in cash, of which around US$4.5 billion will go to Warburg Pincus and other investors, and around US$4.2 billion will be used to repay Bausch + Lomb's debt. The deal is expected to close in the third quarter of 2013.

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