Pension Fund Sues To Block Novartis, Alcon Deal

Law360, New York (January 11, 2010, 5:39 PM EST) -- A $95 million pension fund based in Massachusetts has reportedly slammed a move by Swiss drugmaker Novartis AG to gain control of eye care company Alcon Inc. in a $28.1 billion deal.

The Massachusetts Bricklayers and Masons Trust Funds filed suit against Novartis, Alcon and Nestle SA on Friday in the U.S. District Court for the Southern District of New York, according to Reuters.

The fund claims the proposed agreement is a breach of Novartis' fiduciary duty because it discriminates against minority shareholders, Reuters reported....
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