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Home Industry News Alcon amends WaveLight tender offer

Alcon amends WaveLight tender offer

12th September 2007

Alcon has amended its tender offer for WaveLight, with the firm announcing an extension of its offer and the waiver of the 75 per cent threshold of its minimum tender offer acceptance.

The company has extended its 15 euro (10.19 pounds) per share offer until September 25th 2007, with this offer reflecting a 100 per cent premium on the stock exchange price measured as a volume weighted over one-month.

At the close of the German stock market on September 10th 2007, Alcon owned 53.6 per cent of the shares in WaveLight through purchase, tender or contractual commitment.

Cary Rayment, president, chairman, and chief executive officer of Alcon, said: “With the announcement last week from Carl Zeiss Meditec that it will not proceed with a competitive offer and will tender its shares, we are confident that shareholders will now fully recognize the unique opportunity our very attractive offer provides.”

He added that this extension of the offer period will give shareholders in WaveLight additional time to handle the new information and take the necessary steps to sell their shares to Alcon.

Last month, Alcon announced the receipt of a joint recommendation for its tender offer for WaveLight from that company’s supervisory board and executive committee.

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