STAAR Surgical: Alcon Raises Its Bid, But Obstacles Remain

2025-12-10 07:30:01 ET

STAAR Surgical ( STAA ) received an acquisition offer from Alcon Inc. ( ALC ) in August for $28 per share, which represented over a 50% premium to the prior share price. In my writeup covering this, I concluded that the offer provided STAA's shareholders an attractive valuation for their shares, given the ongoing challenges and risks facing the business. While I expected the deal to go through, I did highlight Broadwood Partners' significant 27% stake and their relatively high cost basis of around $25 per share. This risk materialized and after voting against the terms of the deal, Broadwood pushed for a 30-day Go-Shop period, aiming to find a bidder with a higher acquisition offer. During this time, Broadwood also increased their ownership in STAA to 30%....

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