By James Bernstein, Newsday, Melville, N.Y. Knight Ridder/Tribune Business News
Feb. 22--Eon Labs Inc., one of the larger generic pharmaceutical manufacturers in the metropolitan area, yesterday said it has agreed to be acquired by the giant Swiss drug company Novartis AG, which hopes to become the world's largest producer of low-priced copies of brand-name medicines.
Novartis is also acquiring Eon's parent company, Hexal AG of Germany. Novartis is paying $8.3 billion in the deal. Novartis said it will acquire a majority stake -- 67.7 percent -- in Eon.
Novartis said it will soon begin a tender offer to acquire the rest of Eon for about $1 …