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Nestle shares were 1. Nestle has always declined to comment on a possible Cadbury bid although Chief Executive Paul Bulcke said in September the group had no plans for big acquisitions. Analysts say a more likely target could be U. Alcon said its independent director committee was reviewing the Novartis offer and noted minorities were being offered about 15 percent less than Nestle was getting. Vasella said Novartis did not expect big job cuts as he expected job creation should balance out redundancies.
The plan to pay minorities in Novartis shares rather than cash will help the Swiss company maintain its credit rating. It will also ask its shareholders to approve the issuance of 98 million new shares to pay for the Alcon minority shares, together with million shares held in treasury. Business News Updated. By Emma Thomasson 6 Min Read.
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