Search results
Results From The WOW.Com Content Network
Alcon is a public company that produces ophthalmic products, such as contact lenses, surgical devices and pharmaceuticals. It was founded in 1945 in Texas, USA, and became a subsidiary of Novartis in 2010, before spinning off in 2019.
Shares of Novartis (NVS) soared higher on Wednesday, after the Swiss drug maker finally obtained the remaining outstanding shares of Alcon (ACL) for $12.9 billion. Novartis had been trying to gain ...
Novartis is one of the largest pharmaceutical companies in the world, formed in 1996 by the merger of Ciba-Geigy and Sandoz. Ciba-Geigy was a result of the 1970 merger of two Swiss dye manufacturers, CIBA and Geigy, and had a history of producing chemicals, agrochemicals, and drugs.
Nestlé owned 100% of Alcon in 1978. In 2002 Nestlé sold 23.2% of its Alcon shares on the New York Stock Exchange. In 2008 Nestlé sold 24.8% of existing Alcon shares to the Swiss pharmaceutical giant Novartis. In 2010 Nestlé sold the remaining 52% of its Alcon shares to Novartis. Novartis paid a total of 39.1 bn USD.
The total cost to Novartis for the 77% stake in Alcon was $38.7 billion ($168 per share). In the deal's first phase, Novartis acquired a 25% stake in Alcon from Nestlé for $10.4 billion in July 2008.
Novartis plans to spin off its Alcon eye care business to shareholders and buy back up to $5 billion in stock as Chief Executive Vas Narasimhan refocuses the Swiss group on prescription drugs.
A comprehensive list of the largest mergers and acquisitions by decade from 1870 to 2020, with transaction values adjusted for inflation. See the top deals, purchasers, and targets in each period, as well as the sources and references.
Novartis (NYS: NVS) has two things to say. It now expects more bang for its buck from Alcon. The eye-care acquisition, which cost Novartis $51 billion, will deliver high single-digit to low double ...