Novartis (NVS) closed in a legal battle of 11 months, Wednesday, by paying $ 12.9 billion to shareholders of Alcon (ACL) such as the Basel Swiss company assumes control of almost three quarters of global market care vision, Forbes reports.
Novartis, whose specialty is technology for eye care, contact lenses already controlled 77 per cent of Alcon, whose objective is opthomology surgical products.
Novartis now assumed total control. Novartis initially acquired a quarter in Alcon Nestlé (NSRGY.PK) for $143 per share, which was an agreement of $ 11.4 billion. This game has more than doubled in January 2009 when farms Novartis stood at 52 per cent after paying $ 180 per share.
Novartis then paid $ 38.5 billion to control 77 per cent of the company but independent directors of the Alcon opted against paid less than $168 per share, which initiated the legal battle for which Alcon administrators created a special fund of $ 50 million to cover legal costs. Novartis decision ultimately, agreed to pay cash more minority shareholders and the total amount of money paid to assume control of Alcon reached 51.4 billion.
The merger should be completed in the first half of 2011.
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