Novartis AG - proposed acquisition of Alcon Laboratories Inc

Acquirer(s)

  • Novartis AG

Target(s)

  • Alcon Laboratories Inc

Summary

Novartis AG (Novartis) proposes to acquire a majority interest in Alcon Laboratories Inc (Alcon). Both Novartis and Alcon have global operations in the research and development, manufacturing and marketing of human health care products. In Australia, Novartis and Alcon's businesses overlap in the vision care sector.

Market definition

Please see the attached Public Competition Assessment.

Competition analysis

Please see the attached Public Competition Assessment.

Public competition assessment

Document title Date

Undertakings

Document title Date

Timeline

DateEvent
08/04/2010ACCC commenced review under the Merger Review Process Guidelines.
29/04/2010Closing date for submissions from interested parties.
25/05/2010In order to allow the ACCC to conduct further inquiries, ACCC timeline suspended. Former proposed date for announcement of ACCC's findings of 27 May 2010 deferred.
16/07/2010Divestiture proposal proffered by Novartis. ACCC commenced market inquiries on divestiture proposal. ACCC timeline recommenced.
29/07/2010ACCC announced it would not oppose the proposed acquisition, subject to court enforceable undertaking offered by Novartis.
29/07/201087B undertaking accepted by ACCC.