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Business
Novartis Clinches Alcon Acquisition
by Rick Mullin
December 20, 2010
| A version of this story appeared in
Volume 88, Issue 51
Novartis and Alcon have signed a stock deal valued at $12.9 billion that will complete the Swiss drug company’s acquisition of the eye care giant. Novartis will have spent about $51 billion in total for Alcon, including its acquisition of Nestlé’s majority stake in the firm earlier this year. The deal moved forward after Novartis offered a cash contingency guaranteeing $168.00 per share for its original bid of 2.8 Novartis shares per share of Alcon—a bid that Alcon shareholders initially deemed inadequate.
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