Novartis said it completed its merger with Alcon, a Fort Worth, Texas-based eye-care company, after the Swiss pharmaceutical company's shareholders approved the deal Friday.
Novartis completes Alcon deal
Alcon’s shareholders approved the $51 billion buy on Thursday, according to a news release. The merger is expected to expand Novartis’ global eye-care offerings and provide an annual cost savings of $300 million, the company has said.
Novartis announced in January 2010 that it planned to acquire the remaining 75% stake in Alcon after paying $10.4 billion in 2008 to buy a 25% stake in the company.
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