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 Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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