Full Press Release Details
Achieves Required Ownership in WaveLight AG to Initiate Squeeze-out
HUENENBERG, Switzerland - May 12,
2009 - Alcon, Inc., (NYSE: ACL)
announced today that the company has achieved ownership of more than 95 percent
of the share capital of WaveLight AG (ISIN: DE0005125603). Under the
provisions of the German Stock Corporation Act, Alcon is deemed to be the
principal shareholder of WaveLight's approximately 6.6 million issued and
outstanding shares. The company has notified the WaveLight board of
directors of its intention to acquire all remaining outstanding shares in
accordance with the "squeeze-out" provisions of German securities
law. Alcon intends to acquire these remaining shares in exchange for
appropriate cash compensation following the WaveLight annual general meeting to
be held on August 28, 2009.
"Completing the WaveLight acquisition
will enable us to finalize the combination of Alcon's global commercial
infrastructure with WaveLight's leading technologies," said Kevin Buehler,
Alcon's president and chief executive officer. "While we have successfully
integrated our refractive operations in the United States and other selected
markets, we look forward to further market development opportunities and
operating efficiencies afforded by full ownership."
Alcon, Inc. is the world's
care company, with sales of
approximately $6.3 billion in 2008. Alcon, which has been dedicated to the
ophthalmic industry for 60 years, researches, develops, manufactures and markets
pharmaceuticals, surgical equipment and devices, contact lens care solutions and
other vision care products that treat diseases, disorders and other conditions
of the eye. Alcon's majority shareholder is Nestl , S.A., the world's largest food
company. For more information on Alcon, Inc., visit the Company's web site at
AG develops, manufactures and markets an innovative, end-to-end product
portfolio in the field of ophthalmology, specializing in diagnostic systems and
refractive surgery, including the ALLEGRETTO laser
system. The ALLEGRETTO WAVE Eye-Q
excimer laser combines precision technology with excellent laser energy
stability, high-quality components and reliability. Built with
Pioneering wavefront principles, the laser's PerfectPulse Technology is
designed to control each laser pulse from its generation to the exact point
where it contacts the cornea.
Legal Disclaimer: This press
release is neither an offer to buy nor a request to submit an offer to sell
shares in WaveLight AG.
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press release may contain forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Any forward- looking
statements reflect the views of our management as of the date of this press
release with respect to future events and are based on assumptions and subject
to risks and uncertainties. Given these uncertainties, you should not place
undue reliance on these forward-looking statements. Except to the extent
required under the federal securities laws and the rules and regulations
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obligation to publicly update or revise any of these forward-looking statements,
whether to reflect new information or future events or circumstances or
President, Investor Relations and Corporate Communications