Bausch & Lomb officially withdraws IPO after announcing plans to be acquired by Valeant
Bausch & Lomb, which is the leading supplier of contact lenses and lens care products, officially withdrew its plans for an initial public offering on Thursday after news of the acquisition was announced earlier this week. Valeant Pharmaceuticals plans to acquire Bausch & Lomb for $8.7 billion. The Rochester, NY-based company was founded in 1853 and booked $3 billion in sales for the year ended December 31, 2012. J.P. Morgan, BofA Merrill Lynch and Citi were set to be the joint bookrunners on the deal.
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