Bausch & Lomb Corp

BLCO: XNYS (USA)
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Bausch & Lomb: End to Sale Process Disappoints Investors but Doesn’t Sway Our Long-Term Outlook

Narrow-moat Bausch & Lomb announced Feb. 6 that the potential takeover process has now ended and the firm will not go through a transaction at this time. This disappointed investors who were hopeful that potential buyers would pay a premium, with some sources suggesting interested parties were prepared to offer a bid of up to $25 per share, sent shares down roughly 10%. We maintain our favorable long-term outlook for the firm and maintain our fair value estimate of $20 (CAD 27.50) per share.

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