After over 20 very profitable years, Novartis AG is to sell its considerable stake in fellow Swiss giant Roche Holding AG for $20.7bn, a sum that will swell its war chest for future acquisitions, dividends and buybacks.
A Win-Win As Novartis Sells Roche Stake
Deal Worth Whopping $20.7bn
Over two decades since it first invested in its rival from across Basel, Novartis is selling back more than 50 million shares to Roche and banking billions of dollars that will likely be used for bolt-on acquisitions.
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