Alcon Exceeds 70 Percent Stake in WaveLight AG
Published September 18th, 2007
Alcon, Inc. NYSE:ACL announced today that the company now holds over 70 percent of WaveLight AG outstanding shares through purchase, contractual commitment or tender. Additionally, Alcon’s takeover of WaveLight AG was recently approved by the German Federal Cartel Authority.
Alcon recently amended its acquisition offer by removing the minimum acceptance threshold and extending the tender offer period through September 25, 2007. Alcon’s offer remains at EUR 15.00 per WaveLight share which represents a 100 percent premium on the one-month (EUR 7.49), and a 118 percent premium on the three-month (EUR 6.88), volume weighted average stock exchange price as of the publication of the decision to launch the tender offer on July 16, 2007.
“Our progress in acquiring WaveLight is accelerating and these latest milestones are significant steps in continuing our momentum,” said Cary Rayment, Alcon’s chairman, president and chief executive officer. “With the offer period scheduled to end on September 25th, we believe more WaveLight shareholders will tender their shares to take advantage of our very attractive tender offer.”
For more information on the takeover offer, please visit our transaction homepage http://www.alconrefractiveacq.de or call our toll-free hotline 0800-5398222 (Germany).
About Alcon
Alcon, Inc. is the world’s leading eye care company, with sales of approximately $4.9 billion in 2006. Alcon, which has been dedicated to the ophthalmic industry for 60 years, researches, develops, manufactures and markets pharmaceuticals, surgical equipment and devices, contact lens care solutions and other vision care products that treat diseases, disorders and other conditions of the eye. Alcon’s majority shareholder is Nestle, S.A., the world’s largest food company.
