Novartis' bid for a majority stake of Alcon has gone through, as the Swiss parent company of Ciba Vision has bought 52 percent of Nestle's shares for $28.3 billion. Novartis says its new 77 percent share in the company will lead to greater value for stakeholders through their collaboration. EU regulators gave the go-ahead to Novartis to buy the stake in the summer, but the European Commission said that Novartis would have to sell off several operations in the EU in the sectors of ophthalmologic, pharmaceutical and consumer eye care in order to avoid competition issues. Now, Novartis is looking at the final 23 percent held by minority shareholders. It is proposing a direct merger of Alcon into Novartis at a ratio of 2.8 Novartis shares for each Alcon share.