Staar Surgical Shareholders Reject $1.6 Billion Acquisition by Alcon in Activist Win
By Elias Schisgall
Shareholders of Staar Surgical rejected a proposal to sell the company to Alcon for about $1.6 billion, a win for activist investors who had campaigned to block the deal
Staar, a maker of implantable lenses, said preliminary results from its Tuesday shareholder meeting indicated that too few investors had supported the proposal for eyecare company Alcon to acquire Staar for $30.75 a share.
Staar will remain a standalone company traded on Nasdaq, and neither party will pay a termination fee, the company said Tuesday.
"The board approved the Alcon agreement because we determined that it was in the best interests of STAAR stockholders," Staar Chief Executive Stephen Farrell said. "We respect the outcome of the vote and look forward to working collaboratively with shareholders to ensure the best possible outcome for STAAR as a standalone company."
Many Staar stakeholders, including activist Broadwood Partners, which owns 30.2% of shares, had lobbied against the acquisition even after Alcon raised its bid from $28 a share. Broadwood also had pushed for a special meeting of shareholders to remove three board directors, including Farrell.
Alcon shares were up 1.9% to $82.19, while Staar shares fell 12% to $21.03 in Tuesday morning trading. Staar's stock has fallen 9.9% in the past year.
Write to Elias Schisgall at elias.schisgall@wsj.com
(END) Dow Jones Newswires
January 06, 2026 10:11 ET (15:11 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.The articles, information, and content displayed on this webpage may include materials prepared and provided by third parties. Such third-party content is offered for informational purposes only and is not endorsed, reviewed, or verified by Morningstar.
Morningstar makes no representations or warranties regarding the accuracy, completeness, timeliness, or reliability of any third-party content displayed on this site. The views and opinions expressed in third-party content are those of the respective authors and do not necessarily reflect the views of Morningstar, its affiliates, or employees.
Morningstar is not responsible for any errors, omissions, or delays in this content, nor for any actions taken in reliance thereon. Users are advised to exercise their own judgment and seek independent financial advice before making any decisions based on such content. The third-party providers of this content are not affiliated with Morningstar, and their inclusion on this site does not imply any form of partnership, agency, or endorsement.
Popular
4 Stocks to Buy Before They Rise Further
2 Undervalued Stocks to Buy Before They Rebound
The 10 Best Dividend Stocks
12 Best Blue-Chip Stocks to Buy for the Long Term
United States