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Article: Novartis to Acquire 25 Percent Minority Stake in Alcon from Nestle.
- Article from:
- Business Wire
- Article date:
- April 7, 2008
CopyrightCOPYRIGHT 2008 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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HUENENBERG, Switzerland -- Nestle S.A. and Novartis AG announced today 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 ...