STAAR Surgical Company (NASDAQ:STAA) announced Tuesday that it did not receive the necessary stockholder votes to approve the merger agreement with Alcon Inc. (NYSE:ALC) at the Special Meeting of Stockholders.
STAAR intends to terminate its merger agreement with Alcon.
No termination fee will be payable by either party, and STAAR will remain a standalone publicly traded company.
Stephen Farrell, CEO of STAAR, said, “…In the short term, we will continue to prioritize profitable sales growth while we drive efficiencies through our distribution network. Our EVO ICL technology should be used more extensively worldwide, and it is our mission to achieve that objective.”
What Went Down?
Broadwood Partners on Tuesday said, “It is now time to focus on the road ahead. With its leading technology, strong financial position, privileged position in large markets, and clear path to growth and profit margin expansion in both the near term and the long term,”
Broadwood Partners, which owns a 30.2% stake in STAAR, opposed the proposed sale.
In December 2025, Yunqi Capital Limited, which holds a 5.1% stake in STAAR Surgical, issued a letter to shareholders opposing the deal.
In August 2025, the eye care company Alcon agreed to acquire STAAR Surgical, the manufacturer of the implantable collamer lens, for a total equity value of approximately $1.5 billion.
Later, Alcon amended the terms to $30.75 per share in cash. This purchase price increase represents an additional approximately $150 million in equity value for the stock, representing a total equity value of approximately $1.6 billion.
Price Action: Staar Surgical shares were down 12.20% at $21.02 and Alcon shares were up 1.20% at $81.62 at the time of publication on Tuesday, according to Benzinga Pro data.
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