Blackstone ‘balks’ at price tag for Bausch + Lomb, FT says

Blackstone (BX), which teamed up with investor TPG (TPG) to explore a bid for Bausch + Lomb (BLCO), has cooled on taking part in a joint takeover bid for the eyecare company, putting a deal in jeopardy, people familiar with talks told Financial Times’ Oliver Barnes and Antoine Gara. An auction process for Bausch + Lomb began earlier this year as its heavily indebted parent company Bausch Health (BHC) looked to pay down debt, but Blackstone has “balked at the frothy price expectations of the seller,” FT’s sources said. B+L shares are down 13% in morning trading following FT’s report from yesterday on the sale process.