Deals
Novartis to Buy Out Alcon from Nestle
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Novartis AG (NVS) offered to buy the rest of Alcon Inc. (ACL), the world's largest eye-care company, from Nestle SA (NSRGY) and minority shareholders for about $39.3 billion, as Chief Executive Officer Daniel Vasella expands into eye surgery.
Nestle will sell a 52 percent stake to the Basel, Switzerland-based drugmaker for an average of $180 a share, or a total of $28.1 billion, Novartis said today. Novartis also offered to pay 2.8 of its own shares for each remaining Alcon share held by the public, equivalent to about $11.2 billion, the company said.