Bausch Health Shares Fall 21%; Traders Circulating Blog Report Saying Co Negotiating Potential Prepack Chapter 11 With Co-Op Creditors To Deliver Balance Sheet
Portfolio Pulse from Benzinga Newsdesk
Bausch Health shares fell 21% as traders circulated a blog report suggesting the company is negotiating a potential prepackaged Chapter 11 bankruptcy with cooperative creditors to address its balance sheet issues.
July 24, 2024 | 2:12 pm
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Bausch Health shares dropped 21% following a blog report that the company is in talks for a prepackaged Chapter 11 bankruptcy with creditors to improve its balance sheet.
The significant drop in Bausch Health's share price indicates strong market reaction to the bankruptcy rumors. If the prepackaged Chapter 11 is confirmed, it could lead to further declines due to investor concerns over financial stability.
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