Recent Cases
9 July 2008 - Novartis completes acquisition of 25% stake in Alcon from Nestlé as a first step toward majority ownership
On 7 July 2008, Novartis has completed the purchase of approx. 25 percent of Alcon's shares from Nestlé for approx. USD 10.4 billion in cash. This has been the first step according to an agreement reached in April 2008. From 2010 on, Novartis and Nestlé will have, as an optional second step, call and put options on Nestlé's remaining shareholding in Alcon for a price not exceeding approx. USD 28 billion.
Novartis' in-house legal team, led by general counsel Thomas Werlen and head M&A Jörg Walther was advised as to US and international competition law by Allen & Overy and by Bär & Karrer for all Swiss law aspects. The Bär & Karrer team was led by Rolf Watter, assisted by associates Urs Kägi, Caroline Möhrle and Katja Roth Pellanda (all corporate).
Nestlé was advised by Cravath, Swaine & Moore in New York as to US law and by Homburger as to Swiss law.