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Alcon, Inc.
Novartis to Acquire 25 Percent Minority Stake in Alcon from Nestle
April 25th, 2008
Nestle S.A. and Novartis AG announced that they have reached an agreement pursuant to which Nestle will sell 74 million of its shares of Alcon, Inc. (NYSE: ACL) common stock to Novartis in a cash transaction at a price of $143.18 per share. Once consummated, Novartis would own a minority stake in Alcon of approximately 25 percent of Alcon's outstanding shares, while Nestle would remain Alcon's majority shareholder with approximately 52 percent of Alcon's outstanding shares. Nestle and Novartis also announced that the agreement contains put and call option rights on the remaining Alcon shares owned by Nestle, which commence on January 1, 2010 and expire on July 31, 2011....
Source: Health Business Week (2008-04-25)
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