Bausch & Lomb Owner Said to Seek Banks for IPO as Sale Falters

Warburg Pincus LLC is interviewing banks for an initial public offering of Bausch & Lomb Inc. after an effort to sell the eye-care company resulted in disappointing bids, said people with knowledge of the matter.

The private-equity firm is soliciting pitches from Bank of America Corp., Citigroup Inc., Credit Suisse Group AG, and JPMorgan Chase & Co., which financed the firm’s 2007 buyout of Bausch & Lomb, said one of the people, who asked not to be named because the process is private. New York-based Warburg had worked with Goldman Sachs Group Inc. on finding a buyer for the company and had sought at least $10 billion, people familiar with the process said in January. Goldman Sachs will likely work with another bank on the IPO, another person said.