Staar Surgical may be discussing amended deal terms, says Piper Sandler

Piper Sandler says the postponement of Staar Surgical’s (STAA) shareholder meeting suggests the company and Alcon (ALC) may be discussing the potential to amend merger terms, including the offer price. However, Piper does not expect Alcon to offer a “materially higher bid.” There has been significant shareholder opposition to the current proposal, and it remains uncertain what a potential satisfactory acquisition price would ultimately be, the analyst tells investors in a research note. Piper keeps a Neutral rating on Staar Surgical with a $16 price target. The stock in afternoon trading is up 6% to $1.60.