Bausch & Lomb stock surged on reports the American-Canadian eye health products firm is exploring a sale as it seeks to resolve issues related to its separation from its debt-laden parent company Bausch Health Cos Inc (NYSE:BHC).
According to a Financial Times report citing people familiar with the matter, Bausch & Lomb is working with Goldman Sachs to gauge interest from potential buyers.
Private equity firms are expected to be among the interest parties, the report said.
Bausch & Lomb told the publication it does not “comment on rumors and speculation” and Goldman Sachs also declined to comment.
The eye care division in 2022 was spun out of Bausch Health, which grew rapidly due to a series of acquisitions that left it with $21 billion in debt. $10 billion is set to mature in 2027.
Shares of Bausch & Lomb added 13.8% at about US$17.70 in early trade on Monday.