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Carl Zeiss will not bid on WaveLight

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JENA, Germany — Carl Zeiss Meditec will not make a voluntary takeover bid for WaveLight Laser Technologies, the company announced in a press release.

"After carefully considering a possible takeover of WaveLight and assessing the resulting synergies which could be expected, we have decided not to pursue this option any further," Bernd Hirsch, CFO of Carl Zeiss, said in the release. "Therefore, we will tender our share package at the terms of the existing voluntary public tender offer."

In August, Carl Zeiss acquired a 5% shareholding in WaveLight and began considering a voluntary takeover offer of the company.

The action followed Alcon's July announcement that it intends to acquire WaveLight through a friendly takeover offer of about $13.80 per share in cash. The two companies then entered into a business combination agreement. Alcon later increased its offer price to about $21 per share.

The acceptance period for Alcon's tender offer began Aug. 13 and will conclude Sept. 11. Alcon currently owns on a settled basis or has contractual commitments for more than 19% of WaveLight's shares and intends to acquire at least 75% of its shares.