Novartis Snaps Up Nestle's Alcon Share For $28.1B

Law360, New York (January 4, 2010, 12:35 PM EST) -- Swiss drug giant Novartis AG revealed plans Monday to gain full ownership of eye care company Alcon Inc. by forking over $28.1 billion for Nestle SA's majority stake and merging with Alcon to acquire the remaining minority stake.

The move comes after the Basel, Switzerland-based Novartis shelled out $10.4 billion in 2008 as part of an initial agreement with Nestle to acquire the 77 percent majority stake in Alcon, which manufactures ophthalmic surgery products, specialty medicines for various eye diseases, and other eye care products....
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