Private equity firm Warburg Pincus LLC has selected JPMorgan Chase & Co, Bank of America Merrill Lynch and Citigroup to lead an initial public offering of eye care company Bausch & Lomb, according to two people familiar with the matter. The proposed IPO could value Bausch and Lomb at around $9 billion to $10 billion, according to one source, who declined to be identified because he was not authorized to speak to the media.Warburg Pincus continues to explore a potential sale of Bausch & Lomb and is working with Goldman Sachs to find a buyer, the source added.Representatives for Warburg Pincus and Citigroup declined to comment. JPMorgan and Bank of America did not immediately respond to requests for comment.Bloomberg News reported the hiring of JPMorgan as one of the lead underwriters earlier on Friday.
Bank of America Corporation (Bank of America) is a bank holding company, and a financial holding company. Shares of BAC traded higher by 1.6% or $0.18/share to $11.41. In the past year, the shares have traded as low as $6.72 and as high as $12.42. On average, 168495008 shares of BAC exchange hands on a given day and today's volume is recorded at 131690232.
JPMorgan Chase & Co. (JPMorgan Chase) is a financial holding company. Shares of JPM traded higher by 0.18% or $0.09/share to $49.01. In the past year, the shares have traded as low as $30.83 and as high as $49.68. On average, 23901700 shares of JPM exchange hands on a given day and today's volume is recorded at 15210119.