Alcon amends merger agreement with Staar Surgical, increases acquisition price

Alcon (ALC) announced that it has entered into an amended merger agreement for the acquisition of Staar Surgical Company (STAA). In November 2025, by mutual agreement with Alcon, the Staar board began an unencumbered “go-shop” process, in connection with which Alcon waived its matching rights and any break-up fee if a superior proposal materialized. No such offer was received and the “go-shop” window expired on December 6. Under the terms of the amended agreement, Alcon will purchase all outstanding shares of Staar for $30.75 per share in cash. This purchase price increase represents an additional approximately $150M in equity value for stockholders. The transaction now represents a total equity value of approximately $1.6B, representing a 74% premium to STAAR’s 90-day volume weighted average price and a 66% premium to the closing price of Staar common stock on August 4. Alcon intends to finance the transaction through the issuance of short- and long-term credit facilities. The boards of directors of Alcon and Staar have approved the amended merger agreement, and the Staar board of directors has recommended that Staar stockholders approve the transaction. Alcon expects the transaction to be accretive to earnings in year two. It is anticipated to close in early 2026, subject to customary closing conditions, including regulatory approvals and approval by Staar’s stockholders.