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WaveLight's board voices support for Alcon's tender offer

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HUENENBERG, Switzerland — Alcon has received a joint recommendation from WaveLight's executive committee and supervisory board stating that it strongly supports Alcon's tender offer and recommends that WaveLight's shareholders tender their shares to the company, Alcon announced in a press release.

In its recommendation, WaveLight's executive committee and supervisory board described Alcon's increased offer price of Euro 15 as "very attractive." The price offers a 50% premium over Alcon's initial offer price of Euro 10 per share, according to the release.

The tender offer acceptance period 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, the release said.