Alcon makes a move for WaveLight

Alcon has announced its intention to acquire WaveLight AG by means of a friendly takeover, with both parties entering into a business combination agreement.

Alcon will reportedly offer €10 per share in cash for all issued WaveLight shares. WaveLight's Executive Committee reportedly supports the transaction and will recommend to the shareholders that it be accepted, subject to a review of the published tender offer document.

The deal will be contingent on the fulfilment of various terms and conditions, including a minimum acceptance threshold of 75% of WaveLight's issued shares and approval by the relevant merger control authorities.