Novartis merges with Alcon
Novartis Board of Directors unanimously approves merger for a value of USD 168 per Alcon share totaling USD 12.9 billion, comprising share consideration of up to 2.8 Novartis shares and a contingent cash payment
"The full merger is the logical conclusion of our initial strategic investment in Alcon. With this step Novartis takes full ownership, becoming the global leader in eye care, a rapidly expanding, innovative platform based on the growing needs of an aging population" said Dr. Daniel Vasella, Chairman of Novartis.
"The growth synergies here are significant, as Alcon will be the eye care development engine for our best in class research organization, and will leverage the Novartis market access capabilities outside the US," said Joseph Jimenez, CEO of Novartis. "I am very pleased that we were able to come to this agreement and will be able to provide Alcon employees the full benefits of being part of the Novartis Group."
The new Alcon division will be led by Kevin Buehler, current President and CEO of Alcon, Inc.
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