Dec 9 (Reuters) – Swiss eyecare giant Alcon has lifted its bid to acquire Staar Surgical to $30.75 per share in cash, it said on Tuesday, valuing the medical technology firm at $1.6 billion.
Alcon’s original offer, agreed in early August, valued the company at $1.5 billion. The bid had faced strong resistance from Staar shareholders.
Alcon also said on Tuesday that it had reduced the level of related payments to Staar executives should the deal go through. Staar recommended its shareholders vote in favour of the deal at a meeting on December 19.
The vote had now been postponed three times. Staar’s biggest investor, Broadwood Partners, which opposed the initial offer, announced plans to call a shareholder meeting to remove several directors in October.
“This best and final offer to the Staar stockholders offers a clear choice: a substantial and certain premium versus an uncertain future tied to a dissident activist with a dubious track record,” Alcon said in a statement.
Staar’s board has approved the higher offer and the transaction is expected to close in early 2026, Alcon said.
Shares of Staar Surgical were up 10.4% to $25.6 in premarket trading.
(Reporting by Maria Rugamer; Editing by Matt Scuffham)
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