Valeant Pharmaceuticals completes acquisition of Bausch & Lomb for $8.7 billion

Valeant Pharmaceuticals International, Inc. (NYSE: VRX and TSX: VRX) confirmed on August 6th the completion of its acquisition of Bausch & Lomb Holdings Incorporated for $8.7 billion in cash. The company indicated that $4.5 billion of the payment will go to an investor group led by Warburg Pincus while the remaining $4.2 billion will be used to repay Bausch & Lomb’s outstanding debt. Bausch & Lomb had been taken private by Warburg Pincus 5 years earlier (May, 2007) for approximately $3.67B, excluding approximately $830M in debt.