mail@shareholdersfoundation.com
An investigation on behalf of current investors Alcon, Inc. (Public, NYSE:ACL) over potential breaches of fiduciary duty and other violations of state law in connection with an alleged unfair takeover price was announced.
If you are currently an investor in shares of Alcon, Inc. (Public, NYSE:ACL), you have certain options and you should contact the Shareholders Foundation at
mail@shareholdersfoundation.com or at: +1 (858) 779 – 1554.
The investigation by a law firm focus on potential breaches of fiduciary duty and other violations of state arising out of their attempt to sell Alcon, Inc. (Public, NYSE:ACL) to Novartis AG. Novartis AG (NYSE: NVS) announced to acquire the shares in Alcon, Inc. it does not already own, or the remaining approximate 23 percent of the outstanding publicly-held shares. Alcon, Inc. (NYSE: ACL) announced that Novartis has exercised its option to purchase the remaining shares in Alcon owned by Nestle S.A. at a weighted average price of US$180 per share in cash. The Alcon’s directors have issued a press release that they are disappointed that Novartis is “attempting to circumvent those protections and corporate governance best practices” which exist at Alcon for the protection of the Company’s minority shareholders. Alcon, Inc. has also acknowledged that Novartis’ offer to Alcon’s minority shareholders represents a 15% discount to the price Novartis offer.
According to the investigation by a law firm “the transaction appears to be unfair” to current investors of Alcon, Inc. (Public, NYSE:ACL) because the “offer to purchase Alcon, Inc. (ACL) appears opportunistically timed to take advantage of the current economic downturn” and is “grossly unfair, inadequate, and substantially below the fair or inherent value of ACL”. Therefore the investigation focuses on the rights of Alcon’s minority shareholders.
Alcon, Inc., located in Switzerland, is a research and development driven, global medical specialty company focused on eye care. Alcon, Inc develops, manufactures and markets pharmaceuticals, surgical equipment and devices and consumer eye care products to treat diseases and disorders of the eye. Alcon, Inc. reported in 2007 Total Revenue of $5.5996billion with a Net Income of $1.5864billion and in 2008 Total Revenue of $6.2937billion with a Net Income of $2.0465billion. Shares of Alcon, Inc. traded after the announcement at $156.02 per share, and days before the announcement over $165 per share.
Those who currently are investors in shares of Alcon, Inc. (NYSE:ACL), have certain options and you should contact the Shareholders Foundation at
mail@shareholdersfoundation.com or at: +1 (858) 779 – 1554
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423 -
92108 San Diego
Tel:+1-(858)-
Fax:+1-(858)-
mail@shareholdersfoundation.com
www.ShareholdersFoundation.com
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