Nestle announced Thursday it had finalized the sale of Novartis's 52% that remained in Alcon for $ 28.3 billion (22.3 billion euros).
Nestle has received a total of 41 billion dollars selling American specialist in ophthalmology, if one takes into account the three stages of disinvestment, namely the initial IPO of 23.25% in 2002, sale of 24.8% in 2008 and the last transaction with Novartis, conducted Wednesday, said the world number one agribusiness in a statement.
Nestle, which had acquired Alcon in 1977 for 280 million dollars, now intends to "significantly reduce its net debt, which amounted to 29.6 billion at end June 2010.
Novartis now controls 77% of Alcon and its later clarified in a separate statement that its initial tranche of 25% had already recorded a gain of $ 200 million for the year.
The integration costs of $ 140 million, spread over three years and will save annual synergies of 200 million dollars, said pharmaceutical group.
This year however, will be impacted by charges of 140 million, including transaction costs.
The acquisition will be neutral to earnings per share in 2010 and 2011 but should be accretive as this year for basic EPS ('core').
Novartis is now looking to buy the remaining 23% but the independent directors of Alcon opposed to the proposed price of 2.8 shares per share Novartis Alcon, which is 15% less than the $ 168 per share paid Nestlé.
Swiss law allows Novartis to adopt such an approach but does not guarantee the success of its offer to minority shareholders.
The New York Stock Exchange opened down sharply Friday after the release of monthly statistics of employment in the United States, generally poorer than expected.
The U.S. economy has destroyed 131,000 non-farm jobs in July, mainly because of the end of temporary contracts linked to the census, and the private sector hired less than expected.
Economists and analysts polled by Reuters on average expected destruction of 65,000 jobs.
A few minutes after the start of trading, the Dow Jones lost 0.7% to 10,600.59 points, the Standard & Poor's 500 gave up 0.72% to 1117.69 points and the Nasdaq in 2273 yielded 0.83%, 99.
The persistence of high unemployment (the rate remained unchanged at 9.5% last month) is seen as an obstacle to sustained recovery and statistics on Friday are likely to feed fears of a prolonged weak growth or a relapse into recession.
"What it mostly means is that our economy is stagnating.We are not creating jobs, or it should be the case now, "said Wayne Thomas, head of analysis at John Thomas Financial.
The statistics of the labor market may affect the speech will keep the Federal Reserve after its monetary policy meeting next Tuesday, even if the market anticipates no change in interest rates.
Among the main contributors to the decline of the Dow are industry groups such as 3M (-1.2%) and Boeing (-1.4%).
Among the few values increase in the index, gained 1.3% Kraft Foods after its results.The number one food in North America has published a quarterly profit above expectations and raised its target to reduce costs after the acquisition of Cadbury.
American International Group took over 3.5% after its own results and the announcement of the opening of discussions for an early withdrawal of the state capital.
Spir Communication has again suffered in the first half of the decline in sales in the free advertising press, but cost reductions have allowed it to stabilize its margin.
The media group and distribution of printed materials and packages still struggling to develop its model based on formerly free press announcements, but he expects further restructuring to achieve its objective of restoring the balance operational 2010.
Spir has declined by about 10% of its total turnover in the first half to 280.7 million euros, with a fall of 15% of cluster media, press and internet, and 6% of the segment distribution of printed advertising.
"In the context of an advertising market remains uncertain, Spir Communication is continuing its transformation and is maintaining its target for operating profit to breakeven in the year 2010," the group wrote in a statement.
The operating margin improved slightly semester to 1.7% (+0.2 points) thanks to cost efficiencies, including through a plan for adapting the press division, started in 2009, which reduced by 22% operating losses of this segment in the first half.
The group aims to reduce the share of sales made in the traditional activities of the press free to print ads in favor of a growth in Internet sales.
The press had in the first half for nearly 30% of total turnover, against 12% for sales generated by the division of Internet media.
The action Spir stable closed Tuesday at 16.40 euros in a market capitalization of just over 100 million euros.
In exchange for the bailout unprecedented 110 billion euros, Greece agrees to follow an intensive austerity. This plan aims to reduce the deficit from 13.7% to 3%, and this in two years … An ambitious, some would say impossible … Yet other countries such as Ireland, Sweden and Finland, have succeeded in the past to reduce their deficit.
Those who managed …
The report on public finances published by the IMF in November 2009 lists the fiscal adjustment efforts of two dozen countries over the past 30 years. Ten countries have improved their finances more than 10 points. In 1989, Ireland had such success in lowering the deficit to 20 points, knowing that it still took him 11 years to get there … Another example: in 2000, Sweden and Finland have managed to reduce their deficit of 13.3 points, and that in 7 years.The IMF report notes that more than 20 countries have been able to adjust more than 5 points, their public balance: Japan by 8.1 points, 7.9 points in Italy, Germany by 5.3 points. However, there is no state that in two years. The most "fast" are Israel in 1983 (11.1 points in 3 years) and Cyprus in 1994 (5.2 points in 3 years).
So why Greece did it not happen? After all, she has already, according to IMF data, managed to reduce its deficit from 12.1 points in six years to reach 4.8% in 1995. Admittedly, the statistics of the Greek period are unreliable. Nevertheless, other countries have indeed succeeded in completing their program of readjustment.