Novartis to Acquire Remaining Stake in Alcon for $12.9 Billion (NVS)

By Staff,

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Healthcare products maker Novartis AG ( NVS ) on Wednesday announced it would buy the rest of eye care products maker Alcon, Inc. ( ACL ) that it doesn't already own for around $12.9 billion.

Novartis will pay a total of $168 per share for ACL, which will become the second largest division within Novartis. The company will also roll is CIBA VISION and certain Novartis ophthalmic medicines into Alcon.

Novartis shares rose $4.42, or +7.9%, in premarket trading Wednesday.

The Bottom Line
Shares of Novartis ( NVS ) have a 3.08% dividend yield, based on last night's closing stock price of $55.83. The stock has technical support in the $52 price area. If the shares can build on the early pop, we see overhead resistance around the all-time highs of $61 a share.

Novartis AG ( NVS ) is not recommended at this time, holding a DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing Stocks
Referenced Stocks: ALC , NVS

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