Valeant, a Canadian pharmaceutical company, will buy boslon for us $8.7 billion

VRx To) said on Monday it agreed to buy Bausch & Lomb from Warburg Pincus investment group for $8.7 billion in cash, a deal that would make Valeant one of the world's largest pharmaceutical companies The acquisition will strengthen Valeant's line of ophthalmic drugs, contact lenses, and contact lens care products, as well as products such as ophthalmic surgical equipment and instruments Valeant's shares rose nearly 8% in Toronto, hitting a record high of $93.71, after Friday's 13% jump on reports that the company was in the process of a takeover deal Valeant's share price has quintupled in the past three years or so, with about 60 deals since 2008 Valeant CEO Michael Pearson said in an interview with Reuters that the purchase of Bausch & Lomb is Valeant's largest acquisition so far, and Valeant will rank among the world's top 15 pharmaceutical companies "It's a 160 year old company and brand Its impact will benefit us, "Pearson said, adding that the deal will boost Valeant's 2013 earnings Pearson said Valeant plans to keep all three of boslon's businesses: contact lenses, medicine and surgical instruments, calming speculation that the company may seek to sell all of boslon's surgical instruments businesses Pearson said the acquisition also brought Valeant large-scale operations in emerging markets such as China and the Middle East that it lacked "We are excited about this deal," said James telfser, portfolio manager at Caldwell investment management Now we have an investment in Valeant because we want them to have some US and emerging market businesses, and this acquisition is exactly what we want " "The reason why we always like Valeant is that they have an orderly and restrained acquisition strategy, and their thinking has always been clear, and they know what kind of transformation acquisition should be carried out next," telfser said The deal, which will be financed through debt and equity, will pay about $4.5 billion to investors led by Warburg Pincus and about $4.2 billion to pay the outstanding debt of boslon According to people familiar with the matter, Huaping Investment Group's investment in boshlan is expected to make nearly three times the profits The group declined to comment