News: Deals: Reports

Alcon Inc & Novartis AG	Update Date: 07/13/08
Date Announced: 04/07/08
Value (million $USD): 10.55 billion U.S. Dollar

Status: Completed

TRANSACTION DETAILS
Date Announced	04/07/08
Date Originally Announced	04/07/08
Format	Acq. Part. Int.	Acquisition techniques	Privately Negotiated Purc
Attitude	Friendly	Agency	Unspecified Regulatory Auth.
Value	10.55 billion U.S. Dollar	Advisor Fees	n/a

SYNOPSIS

US - Novartis AG (NA) acquired a 25% stake, or 73.666 mil common shares, in Alcon Inc (AI), a manufacturer and wholesaler of pharmaceuticals, surgical equipment and devices, and contact lens care and other vision care products, from Nestle SA, for $143.18 in cash per share, or a total value of $10.547 bil, in a privately negotiated transaction. The transaction had been subject to regulatory approval. Concurrently, NA was granted an option to raise its interest to 77% from 25% by acquiring a 52% interest, or 153.225 mil common shares, in AI.

TARGET
Name	Alcon Inc (ACL)
Industries	Surgical and medical instruments and apparatus; Pharmaceutical preparations; Medical, dental, and hospital equipment & supplies
City	Fort Worth
State	TX
Nation	United States
Incorporated in	n/a
Public Status	Public
Business Description	Alcon Inc, located in Fort Worth, Texas, manufactures and wholesales pharmaceuticals, surgical equipment and devices, and contact lens care and other vision care products that treat conditions of the eye. The company was founded in 1945.
Advisors	Credit Suisse Group; Citi
Target Sales	5.94 billion U.S. Dollar

ACQUIROR
Name	Novartis AG (Zurich : NOVZN)
Industries	Ophthalmic goods; Dry, condensed, and evaporated dairy products; Canned specialties; Offices of holding companies, nec
City	Basel
State	n/a
Nation	Switzerland
Incorporated in	n/a
Public Status	Public
Business Description	Novartis AG, headquartered in Basel, Switzerland, manufactures pharmaceuticals including self-medications and non-prescription drugs. It also manufactures optical and ophthalmic products including contact lenses. The company produces nutritional products including baby formula and baby canned food and serves as a holding company. It was founded in 1996.
Advisors	Goldman Sachs & Co
Acquiror Sales	44.74 billion U.S. Dollar 44.49 billion Swiss Franc

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