Novartis has exercised its call option to buy Nestle's remaining 52% stake in eyecare company Alcon for about $28 billion in cash. Novartis, which had been widely expected to snap up the stake, also plans to buy out the 23 percent held by Alcon minority shareholders for $11.2 billion, ending uncertainty as to whether or not it would go for full control.
Alcon's roots go back to a pharmacy Robert Alexander and William Conner opened in Fort Worth, Texas, in 1945. The name is a combination of the first parts of each of their last names.
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