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Valeant seals US$8.7b eye health deal
Aggregated Source: Shanghai Daily: Business

VALEANT Pharmaceuticals International said yesterday it has agreed to acquire eye care company Bausch & Lomb Holdings Inc from Warburg Pincus LLC for US$8.7 billion in cash.

The deal is expected to transform Quebec-based Valeant into a global leader in eye health by strengthening its capabilities in ophthalmic pharmaceuticals, contact lenses and lens care products, and ophthalmic surgical devices and instruments.

The deal, to be financed through debt and equity, will see some US$4.5 billion go to an investor group led by Warburg Pincus LLC, with some US$4.2 billion used to pay down Bausch & Lomb's outstanding debt.

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