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WaveLight public takeover period ends

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HUENENBERG, Switzerland — Alcon's public takeover offer period for WaveLight AG has ended, Alcon announced in a press release.

The transaction will be settled upon cartel clearance in China and Cyprus. Alcon received cartel clearance in Spain earlier this week, the release said.

With completion of the transaction, Alcon will have control of 77.4% of the approximately 6.6 million outstanding WaveLight shares. Under the takeover offer, 3.1 million WaveLight outstanding shares, or 47.5%, were tendered to Alcon. Alcon purchased an additional 2 million shares, or 29.9%, in the market or directly, according to the release.

"I am very pleased with this result," said Cary Rayment, Alcon president, chairman and CEO, in the release. "It enables us to integrate WaveLight operations with Alcon's global capabilities and create a leading force in the refractive laser market."