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Article: Alcon buying laser systems company.(The Dallas Morning News)
- Article from:
- Knight Ridder/Tribune News Service
- Article date:
- May 26, 2000
- Author:
CopyrightCOPYRIGHT 2000 Knight-Ridder/Tribune News Service. 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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Fort Worth, Texas-based Alcon Laboratories Inc. has agreed to acquire Summit Technology Inc., a maker of laser surgery equipment, for $893 million.
Alcon, a division of Switzerland-based Nestle SA, said it would begin a $19-a-share tender offer by June 5.
Shares of Summit surged $5.81 on Friday, or almost 46 percent, to close at $18.50.
Alcon produces eye-care products and technologies, including surgical instruments and accessory products, prescription drugs and contact lens care products.
Summit, based in Waltham, Md., produces laser systems designed to correct vision disorders such as nearsightedness, farsightedness and ...