Novartis Acquires Rest of Alcon for $12.9 Billion

MarketWatch reports that Swiss drug giant Novartis has agreed to take full ownership of eye-care specialist Alcon Inc. for a value of $168 per Alcon share totaling $12.9 billion, comprising share consideration and a contingent cash payment. Previously, Novartis controlled approximately 77 percent of Alcon. Following completion of the merger, Alcon will become the new eye-care division of Novartis. Shares of Novartis rallied 3.4 percent in early Swiss trading.