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DewDiligence

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DewDiligence

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Re: DewDiligence post# 61147

Friday, 04/08/2011 12:38:05 AM

Friday, April 08, 2011 12:38:05 AM

Post# of 257253
Alcon’s minority shareholders approve NVS acquisition:

http://finance.yahoo.com/news/Alcon-Shareholders-Approve-bw-3249883798.html?x=0&.v=1

The consideration is 2.9228 shares of NVS stock plus $8.20 in cash, which comes to $171/sh at NVS’ current share price.

Paradoxically, Alcon’s minority shareholders got paid slightly more than the average price the controlling shareholder, Nestlé, got from NVS in its two-step sale, although minority shareholders did have to wait considerably longer to get paid.

Today’s shareholder vote marks the final step of what has been a 3-year period to consummate this deal.

“The efficient-market hypothesis may be
the foremost piece of B.S. ever promulgated
in any area of human knowledge!”

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