Pink Sheet is part of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC’s registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call +44 (0) 20 3377 3183

Printed By

UsernamePublicRestriction
UsernamePublicRestriction

Alcon deal closes

This article was originally published in The Tan Sheet

Executive Summary

Novartis closes its acquisition of a 25 percent stake in Alcon as part of an agreement with Nestle announced in April. Nestle said previously it would sell 74 million shares of its Alcon eye-care product firm to Novartis at $143.18 a share (1"The Tan Sheet" April 14, 2008, In Brief). Novartis purchased the stake in Alcon for approximately $10.4 billion in cash - $200 million less than previously announced, to account for the "Alcon dividend paid in May 2008 for these shares to Nestle rather than Novartis," the Switzerland-based firm says. There is also an optional second step, which would allow Novartis to acquire the remaining 52 percent stake held by Nestle between January 2010 and July 2011 for a price not exceeding $28 billion. Novartis says completion of the optional second step would make Alcon a "majority-owned subsidiary of Novartis, strengthening a portfolio focused on growth areas of health care"...
Advertisement

Related Content

Topics

Advertisement
UsernamePublicRestriction

Register

PS101860

Ask The Analyst

Please Note: You can also Click below Link for Ask the Analyst
Ask The Analyst

Your question has been successfully sent to the email address below and we will get back as soon as possible. my@email.address.

All fields are required.

Please make sure all fields are completed.

Please make sure you have filled out all fields

Please make sure you have filled out all fields

Please enter a valid e-mail address

Please enter a valid Phone Number

Ask your question to our analysts

Cancel