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Alcon pushes ahead with WaveLight merger

This article was originally published in Clinica

Executive Summary

Alcon's proposed acquisition of Erlangen, Germany-based eye correction laser and diagnostic systems developer WaveLight has cleared another hurdle, just days after receiving antitrust approval from the German authorities. WaveLight's board of directors this week gave the thumbs up to Alcon's "very attractive" offer of E15 ($20.23) per share, and recommended that shareholders tendered their shares to the Fort Worth, Texas company. Alcon had originally agreed to pay E10 per share when it announced the proposed acquisition in mid-July (see Clinica No 1265, p 12), but recently upped its offer by E5 to reflect positive trading activity. The tender offer, which was initiated on August 13, will conclude on September 11.

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