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Novartis
May Spend Up To $39B for Nestlé’s Stake in Alcon
April
7, 2008--Novartis
is acquiring shares of the eye-care company Alcon from its
majority owner, Nestlé, in a deal potentially worth $39 billion.
Novartis initially will buy a 25% stake in Alcon for $11 billion,
with exclusive rights to acquire Nestlé’s remaining 52% stake
for $28 billion between January 2010 and July 2011. Novartis
chairman and CEO Daniel Vasella told BusinessWeek: “This enables
us to take advantage of a major growth opportunity while
diversifying risk.” Read the full story in BusinessWeek.
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