Healthcare Industry News: S.A.
News Release - September 28, 2007
Alcon Gains 76.9 Percent of WaveLight Shares and Will Move Forward with Acquisition
HUENENBERG, Switzerland--(HSMN NewsFeed)--Alcon, Inc. (NYSE:ACL ) announced today that the company has gained control of 76.9 percent of WaveLight'S.A.proximately 6.6 million issued and outS.A.ding S.A.es. As required by the German Security Purchase and Take-over Act, an additional two-week acceptance period will begin on September 29, 2007 and will continue through October 12, 2007. The company has received approvals from the competition authorities in Germany and Austria and iS.A.aiting cartel clearances in China, CypruS.A.d S.A.n prior to closing of the transaction.Through September 25, 2007, 3.10 million WaveLight S.A.es were tendered to Alcon, equivalent to 47.1 percent of the issued and outS.A.ding WaveLight S.A.es. Also, Alcon has legally acquired 1.96 million WaveLight S.A.es, or 29.9 percent of the issued and outS.A.ding S.A.es, either on the stock market or through direct purchase.
"We are pleased to have received broad acceptance from the WaveLight S.A.eholders. By controlling more than 75 percent of the S.A.es, once we obtain the other regulatory approvals we can begin the process of integrating WaveLight with Alcon's existing refractive business," said Cary Rayment, Alcon's chairman, president and chief executive officer. "We expect more WaveLight S.A.eholders will accept our offer during thiS.A.ditional two-week acceptance period to ensure they can obtain the EUR 15 per S.A.e offer price."
"Alcon's friendly takeover offer is in the best interest of WaveLight S.A.eholderS.A.d I am glad that the offer reached such a high level of acceptance," said Max Reindl, WaveLight's chief executive officer. "The combination of Alcon's global marketing, distribution and service platform with the ALLEGRETTO® laser and WaveLight's technological expertise will create a formidable force in the global refractive laser market."
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 (NYSE:ACL )
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, reS.A.ches, develops, manufactureS.A.d markets pharmaceuticals, surgical equipment and devices, contact lens care solutionS.A.d other vision care products that treat diS.A.es, disorderS.A.d other conditions of the eye. Alcon's majority S.A.eholder is Nestle, S.A., the world's largest food company.
Legal disclaimer: This press release is neither an offer to buy nor a request to submit an offer to sell S.A.es in WaveLight AG.
Caution Concerning Forward-Looking S.A.ements. This press release may contain forward-looking S.A.ements within the meaning of the United S.A.es Private Securities Litigation Reform Act of 1995. Any forward-looking S.A.ements reflect the views of our management as of the date of this press release with respect to future eventS.A.d are based on assumptionS.A.d subject to riskS.A.d uncertainties. Given these uncertainties, you should not place undue reliance on these forward-looking S.A.ements. Except to the extent required under the federal securities lawS.A.d the ruleS.A.d regulations promulgated by the SecuritieS.A.d Exchange Commission, we undertake no obligation to publicly update or revise any of these forward-looking S.A.ements, whether to reflect new information or future events or circumS.A.ces or otherwise.
Source: Alcon
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