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STAAR Surgical Announces Amendments to Alcon Merger Agreement
30-Day Go-Shop Period to Actively Solicit Other Third-Party Proposals No Termination Fee Payable to Alcon if STAAR Terminates Merger Agreement to Accept a
About this update from Staar Surgical Company
[{"type":"text","content":"\n30-Day Go-Shop Period to Actively Solicit Other Third-Party Proposals\n\nNo Termination Fee Payable to Alcon if STAAR Terminates Merger Agreement to Accept a Superior Proposal from a Qualified Bidder\n\nAlcon Waives All Matching Rights for Third-Party Proposals\n\nAlcon Waives Information Rights During the Go Shop Period\n\nAlcon to Engage with STAAR Stockholders to Solicit Support in Favor of the Merger Proposal\n\nSTAAR Special Meeting of Stockholders Postponed to December 19, 2025 to Provide Time for Third-Party Proposals\n\n LAKE FOREST, Calif.--(BUSINESS WIRE)--\nSTAAR Surgical Company (NASDAQ: STAA), the global leader in phakic IOLs with the EVO family of Implantable Collamer® Lenses (EVO ICL™) for vision correction, today announced that the Company has agreed with Alcon Inc. (SIX/NYSE: ALC) to amend their merger agreement to allow proactive solicitation by STAAR of third-party proposals to maximize value for all STAAR stockholders.\n\nThe amended agreement includes:\n\n\nA new 30-day go-shop period: The new go-shop period enables STAAR to proactively solicit third-party proposals through December 6, 2025, while also protecting the offer that Alcon has agreed to provide under the merger agreement. During the go-shop period, STAAR and its financial advisor plan to contact parties to invite interest in an alternative transaction to the Alcon merger. STAAR welcomes proposals from any interested party, even if not contacted by STAAR or its advisor.\n\n\n\nNo matching rights for third-party proposals: Alcon has agreed to give up any matching rights should a superior proposal be made during the go-shop period.\n\n\n\nLimited information rights: Until the end of the go-shop period, STAAR is not required to notify Alcon regarding any bids it receives, further fostering a fair and open go-shop process.\n\n\n\nNo termination fee payable by STAAR: STAAR is not required to pay a termination fee to Alcon if STAAR terminates the amended merger agreement to accept a superior proposal from a qualified bidder or if Alcon terminates because the STAAR board changes its recommendation with respect to a superior proposal from a qualified bidder, which further incentivizes any interested third party to submit a proposal.\n\n\nStephen Farrell, CEO of STAAR, said, “The STAAR Board continues to be committed to maximizing stockholder value. This ...