Wavelight executives endorse Alcon offer

Erlangen, Germany-Furthering the friendly takeover process begun in July, the WaveLight AG executive committee and supervisory board have recommended that shareholders in the refractive surgery technology company tender their shares to Alcon Inc., according to a statement released by Alcon Inc.

Alcon, incorporated in Huenenberg, Switzerland, with U.S. operations based in Fort Worth, TX, had increased its offer to the equivalent of approximately $20.45 U.S. per share, a 50% premium over its initial offer. The tender offer acceptance period will conclude Sept. 11. Alcon, which currently owns on a settled basis or has contractual commitments for more than 19% of WaveLight’s shares, has expressed an intention to increase its stake to at least 75% of WaveLight’s issued shares.

The news follows the German Federal Financial Supervisory Authority approval of publication of Alcon’s tender offer document, which is available online at http://www.alcon.com/investors-media/english-confirm.asp.