Reported Earlier, 'Bausch Plan To Spin Off Eye-Care Business Stuck In Creditor Standoff; Plan For Bausch + Lomb Spinoff Is Pitting Shareholders Icahn And Paulson Against Creditors Including Elliott And Apollo' - WSJ
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Bausch Health's plan to spin off its eye-care subsidiary, Bausch + Lomb, is facing a standoff between major shareholders and creditors. Shareholders like Carl Icahn and Paulson & Co. are against a bankruptcy filing, while creditors, including Elliott and Apollo, support it to restructure over $22 billion in debt.
August 08, 2024 | 4:06 pm
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Bausch Health's plan to spin off Bausch + Lomb is facing opposition from creditors who favor a bankruptcy filing to restructure $22 billion in debt. Shareholders like Carl Icahn and Paulson & Co. are against this move.
The standoff between shareholders and creditors creates uncertainty around the spinoff and potential bankruptcy filing. This could negatively impact Bausch Health's stock price in the short term due to the unresolved debt restructuring issue.
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