Bill Ackman Takes Bigger Role at Valeant

Bill Ackman, previously a passive investor, is now on the board and addressing employees about company changes, including no major layoffs and finding a new CEO. The company plans to sell non-core assets and consider an IPO for Bausch and Lomb to reduce its $31 billion debt. Howard Schiller, a board member, faces accusations of impropriety and is resisting calls to resign, complicating board dynamics.

What implications does the potential IPO of Bausch and Lomb have for the company?

How much debt is the company currently sitting on, and what are they considering to manage it?