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Novartis wraps up Alcon majority stake

This article was originally published in The Tan Sheet

Executive Summary

Novartis acquires Nestle's 52 percent stake in Alcon for $28.3 billion, giving Novartis a total of 77 percent ownership in the eye care firm. With the Nestle deal completed Aug. 26, Novartis continues its quest for the remaining 23 percent of Alcon held by independent stockholders, who have rejected Novartis' proposed purchase price as inadequate (1"The Tan Sheet" Aug. 23, 2010). "We are ready to defend the rights of Alcon and its minority shareholders if Novartis refuses to negotiate a fair deal," said Thomas Plaskett, chairman of Alcon's independent director committee

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