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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Acal | LSE:ACL | London | Ordinary Share | GB0000055888 | ORD 5P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 320.25 | 320.00 | 324.75 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Jun 2019 to Jun 2024
Swiss drugmaker Novartis AG (NVS) doesn't plan any changes to its agreement with Nestle SA (NESN.VX) on eye-care company Alcon Inc. (ACL), management said during a conference call Thursday, detailing the company's first-quarter results.
Novartis is in the process of buying Alcon from Nestle for a total of $39 billion. The deal is expected to be concluded by 2010 or 2011.
In a first step, Basel-based Novartis paid Nestle $10.4 billion for a 25% stake in Alcon in July 2008.
Nestle now has the right to sell its remaining 52% stake in Alcon between January 2010 and July 2011 to Novartis at a 20% premium of the average share price during the week before the sale, not exceeding $181 a share, or $28 billion.
Nestle has the right to require Novartis to buy this stake, though there is a walkaway clause in the case of unexpected events such as a major product recall.
Company Web Site: www.novartis.com; www.nestle.com
-By Julia Mengewein, Dow Jones Newswires; +41 43 443 80 45; julia.mengewein@dowjones.com
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