Alcon announces offer for WaveLight AG

A friendly takeover of WaveLight AG has been announced by Alcon today, in a move which sees the two firms enter into a business combination agreement.

A developer and manufacturer of refractive laser and diagnostic systems, WaveLight is to be purchased at a value of ten euros per share – a 45 per cent premium on the three-month average stock exchange price of the firm’s shares.

The deal is fully supported by the executive committee at Wavelight, which intends to recommend acceptance to shareholders.

Cary Rayment, Alcon’s chairman, president and chief executive officer, comments: “This acquisition will provide additional clinical solutions and laser technology to better support our cataract and refractive customers.

“We look forward to welcoming the WaveLight team and believe the combination of the Allegretto laser with our premium lenses, the AcrySof, ReStor, and AcrySof Toric intraocular lenses and our future launch of the AcrySof phakic lens in Europe enhances Alcon’s product portfolio in the cataract/refractive surgeon channel.”

Alcon is due to report second quarter financial results for the period ending June 30th at market close on Wednesday July 25th.

A conference call discussing the results is set to be available from 08:30 EST, accessible from the firm’s website.