Shareholder Rebellion Intensifies as Staar Surgical Acquisition Reaches Critical Juncture

The proposed acquisition of Staar Surgical by Alcon is approaching a decisive moment, marked by growing dissent from major shareholders. A 45-day “go-shop” period, which concluded on Friday without a superior offer, has failed to quell the opposition. The company’s board continues to champion the deal as value-maximizing, but it now faces significant resistance from two key investors who argue the terms significantly undervalue the company.

The rebellion gained substantial momentum with the formal opposition of Yunqi Capital, an investment firm holding a 5.1% stake. They have aligned with the largest shareholder, Broadwood Partners, which controls 27.4% of the company. Both entities have publicly rejected Alcon’s offer of $28 per share, deeming it an inadequate valuation of Staar Surgical’s worth. Despite... Read more...