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Alcon, Inc.
Novartis Completes Purchase of Minority Interest in Alcon
July 25th, 2008
Novartis AG and Nestle S.A. announced that they have completed the first step purchase and sale of 74 million shares of Alcon, Inc. (NYSE: ACL) common stock currently owned by Nestle pursuant to the agreement dated April 6, 2008 between Novartis and Nestle. With the completion of the first step transaction, Nestle remains Alcon's majority shareholder with approximately 52% of Alcon's issued capital and Novartis now owns a minority stake in Alcon equal to approximately 24.85% of Alcon's issued capital. As a result of Novartis' minority investment in Alcon, the Alcon board of directors expands from eight to ten directors. James Singh, Nestle's executive vice president and...
Source: Health Business Week (2008-07-25)
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