Could you see this deal coming? Pun completely intended.

Private equity group Warburg Pincus has stepped up and bought the optical company Bausch and Lomb. The deal is valued at $65 per share, or almost $4.5 billion.

Bausch and Lomb made headlines last year for its massive recall ReNu with MoistureLoc Contact Lens Cleaning Solution.

Rochester-based Bausch and Lomb is being bought by a global private equity firm in a deal pegged at $4.5 billion dollars.

Bausch and Lomb says the board of directors has approved the agreement to merge with Warburg Pincus, which will acquire all outstanding shares of the eye-care products company for 65 dollars per share.

(Continue reading this story on cbs5.com)

Next article » How Not To Please Your Shareholders

Previous article « Tyco's Massive Settlement