The 52% Stake In Alcon From Nestle To Novartis Passes

By Author: Italo Zanotti
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Novartis has taken over by Nestle with 52% of the shares of Alcon American manufacturer of ophthalmic products, amounting to 28.1 billion dollars. The pharmaceutical group Basel door so its 77% stake in Alcon. They announced the two companies.
The transaction, which will be under assessment by the competent authorities, should be completed by mid year. Novartis had entered into an agreement with Nestle in April 2008 for the progressive acquisition of Alcon, the world leader in the field of ophthalmology. At first the giant Basel took over a quarter of the company, over 10 billion dollars.
Daniel Vasella, Chairman of the Board of Directors and the Management Board of Novartis, believes that the acquisition will generate good business. In the wake of an aging population, "the industry will record a dynamic development. The product range is complemented well with Alcon CIBA Vision, already in the hands of giant pharmaceutical Rhinelander, Vasella noted in a conference call.
Novartis plans to bring together the two sectors in a single division, whose sales should reach $ 8.5 billion. The acquisition will not result ...
... in an overall reduction in staff. According to a number of Novartis uses economized due to the synergies will be offset by the creation of additional jobs resulting from growth in the sector.
To finance the transaction, the pharmaceutical company must obtain credit for up to 16 billion dollars. Other shareholders of Alcon Novartis will submit a public offer to buy 2.8 offers its own shares, equal to $ 153 per title. The value of this transaction is estimated at 11.2 billion dollars.
The offer includes a premium of 12% of the share price. Less than achieved by Nestle, which is $ 180 licenses ($ 143 for the first installment). A committee of the Board of Directors of Alcon, which represents the interests of minority shareholders, will review the offer, indicating Alcon in a statement.
For its part, Nestle greatly increases the liquid assets at its disposal with the sale of its stake of 77% in Alcon will collect about 38.5 billion dollars. The multinational had taken Alcon in 1977 for just $ 280 million. Was aired by several parties of interest for Nestle Cadbury, British manufacturer of beverages and confectionery.
The food giant has, however, indicated that Vaud is planning a further share buyback plan of 10 billion Swiss francs (10 billion dollars). It should be launched once the current program, which covers an amount of 25 billion Swiss francs (25 billion dollars). About Cadbury, Nestle did not want to make statements.