TPG and Blackstone (BX) are teaming up to jointly bid for eyecare company Bausch + Lomb (BLCO), which was put up for sale to resolve an impasse over a separation from its heavily indebted parent company Bausch Health (BHC), The Financial Times’ Oliver Barnes, Antoine Gara and James Fontanella-Khan report. According to people familiar with the matter, several other private equity funds assessing bids have dropped out of the process. The people say offers are expected to value the company at an enterprise value of between $13B-$14B, or up to $25 per share.
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