It was quite a busy and eventful day for the company.

Key Takeaways Bausch + Lomb shares surged Monday following reports Blackstone and TPG are considering teaming up to buy the eyecare company. A bid from Blackstone and TPG could reportedly value the company between $13 billion and $14 billion.

Bausch Health faces $21 billion in debt, with $10 billion due by 2027 and a $2.4 billion loan due next year. Private equity firms TPG and Blackstone are joining forces in a bid to acquire eye care company Bausch + Lomb BLCO, the Financial Times reported. Last month, Bausch + Lomb said it was considering a sale.

One Bloomberg estimate projected the sale to value Bausch + Lomb at over $13 billion, making the deal potentially one of the largest PE buyouts of 2024.

Shares of contact lens supplier Bausch + Lomb ($BLCO) are surging in today’s trading amid news of a potential acquisition. According to an

Bausch & Lomb (NYSE:BLCO) jumped 9% in premarket trading on a report that private equity firms TPG (TPG) and Blackstone (BX) are working on a joint bid for the eyecare company. Several other PE shops that have been considering an offer have dropped out,