Business news: Novartis to acquire stake in Alcon

Novartis is acquiring a minority stake in Nestle-owned Alcon and an option to acquire a majority stake, which would make it the 2nd-largest

Novartis to buy Alcon stake for $39 billion

Novartis AG (NOVN.VX) has agreed to buy Nestle AG's (NESN.VX) 77 percent stake in U.S. company Alcon (ACL.N) in a deal worth up to $39 billion to boost its eye care business, the Swiss drugmaker said on Monday.

Novartis will acquire a first, 25 percent stake in Alcon for $11 billion and is set to buy Nestle's remaining 52 percent for a fixed price of $28 billion between January 2010 and July 2011.