News For ACL From The Last 14 Days Check below for free stories on ACL the last two weeks.
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February 5, 2010
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| 09:33 EDT |  | ACL |
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February 1, 2010
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| 13:13 EDT |  | ACL |
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January 29, 2010
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| 08:02 EDT |  | ACL |
| theflyonthewall.com: | Alcon volatility low on uncertainty of minority shareholders action | | Alcon, Inc. (ACL) closed at $156.79. On January 4 Novartis AG (NVS) announced it exercised its option to purchase the remaining shares in Alcon owned by Nestle S.A. at a weighted average price of $180 per share in cash. Upon consummation of the purchase, Novartis would own an approximate 77% interest in Alcon. Alcon also announced that Novartis had submitted a proposal to the Alcon Board of Directors relating to the remaining approximate 23% publicly-held minority interest pursuant to which Alcon would merge with and into Novartis under Swiss merger law and minority holders of publicly-held shares would receive 2.8 Novartis shares for each of Alcon’s publicly-traded shares. Based on the Novartis share price on December 30, 2009, Novartis’ merger proposal values each publicly-traded share of Alcon at approximately $153. Alcon independent directors on January 20 derided the minority shareholder buyout offer from NVS as "grossly inadequate." ACL February put option implied volatility is at 17, March is at 18; verses its 26-week average of 23 according to Track Data, suggesting decreasing price movement. :theflyonthewall.com |
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