Novartis, Alcon acquired the remaining shares of the exercise of call options – Alcon – the pharmaceutical industries
– Alcon, Inc. (NYSE ticker: ACL) announced that Novartis AG (NYSE ticker: NVS) has exercised a call option, from Nestle, a weighted average of 180 U.S. dollars per share cash offer in Ireland health of the remaining shares. After the acquisition, Novartis will own about 77% stake in Alcon. Alcon also announced that Novartis has submitted related to Alcon Alcon board of directors remaining 23% of the publicly traded minority interest in the proposal, the proposed merger under Swiss law will be incorporated into Alcon, Novartis, and the publicly traded minority interests shareholders can be the ratio of 1:2.8 to Alcon shares to Novartis shares replacement. In accordance with the December 30, 2009 level of Novartis shares, Novartis merger proposal will be publicly traded stock valuation Alcon for about 153 U.S. dollars per share.
Aforementioned mergers need to be approved by the Board of Alcon, Novartis and Nestle, with the successful completion of the exercise of the purchase and sale of the Novartis deal, and after obtaining regulatory approval to complete.
Nestle Novartis bought the first time in the previous 25% stake in Alcon occasion, Alcon board of directors to facilitate the establishment of the Alcon board of directors in 2008 under the jurisdiction of the independent board committee to protect the listed Alcon Novartis shares of minority shareholders in the merger and other interests involved in the proposal. The Committee comprises three independent directors: LodewijkdeVink, JoanW.Miller, MD and ThomasG.Plaskett. Novartis merger proposals in the review process, the Commission continued with the Greenhill & Co. As an independent financial adviser and Sullivan & CromwellLLP as an independent legal counsel, and thoroughly review the Novartis merger proposal, to maximize protection of Alcon market share value of the shares of minority shareholders. The committee said that Alcon's independent director committee and management were not involved in the preparation of the Novartis merger proposal.
The Commission is working closely with the consultants to assess the form and amount including the price proposal, including the merger terms. The Committee noted, in particular on the Alcon Novartis approximately 153 U.S. dollars per share, the intrinsic valuation means: Nestle, Novartis will hold 52% stake in Alcon deal with Nestle to enjoy the weighted average call option price 180 U.S. dollars in August 5 fold. Committee Alcon management continue to create higher value for shareholders the ability to maintain confidence.
Once the assessment is completed, the Commission will inform the Committee of Alcon shareholder proposal on the official views of the Novartis merger. Commission also reappointment Brunswick Group (BrunswickGroup) spread as a third party consultant.
About Alcon
The world's leading eye care company Alcon Inc. in 2008 revenue of about 6.3 billion U.S. dollars. Alcon ophthalmic industry has committed to 65-year history, the company overall R & D, production, Marketing Eye Medicine Products, ophthalmic surgical equipment devices, contact lens care products, and other treatment-related diseases, regulation does not apply to the eye care consumer. In 75 countries and regions with branch offices, products Sell Over more than 180 countries and regions.
bwt-laser.com is a promising e-commerce company in China. bwt-laser.com offers a variety of high quality products such as diode laser system , Fiber Dense Array KCTP-32 laser module suppliers, and many more. For more information, please visit http://www.bwt-laser.com/ today!
Processing your request, Please wait....
