Alcon Inc. announced that it has exercised its right under the pending merger agreement to adjourn the special meeting of STAAR Surgical shareholders. The meeting, originally slated for December 19, 2025, has been moved to January 6, 2026, giving Alcon additional time to finalize the transaction and address shareholder concerns.
The adjournment follows a series of postponements—four in total, with the December 19 date being the fourth. The earlier delays began with an October 23 meeting that was postponed, and subsequent reschedulings were driven by the need to secure broader shareholder support and to respond to evolving regulatory and market conditions. Shareholder concerns center on the valuation offered, the speed of the deal, and the potential impact on STAAR’s operational autonomy.
Alcon’s rationale for the adjournment is twofold. First, the company seeks to strengthen its case to dissenting shareholders by providing additional time to explain the benefits of the $30.75‑per‑share cash offer, which represents a 74% premium to STAAR’s 90‑day volume‑weighted average price. Second, Alcon aims to align the integration timeline with its broader strategic plan to expand its surgical vision portfolio, particularly the EVO ICL lenses that drive STAAR’s market leadership in implantable phakic intraocular lenses.
The decision comes amid a split in proxy‑advisor recommendations: Institutional Shareholder Services (ISS) has urged shareholders to vote in favor of the revised deal, while Glass Lewis has advised a vote against it. This divergence has amplified uncertainty, especially as major shareholders such as Broadwood Partners continue to oppose the transaction, citing concerns over the deal’s process and valuation. The limited support—only about 30% of outstanding shares have voted in favor as of December 19—underscores the challenge Alcon faces in securing the necessary approval.
The adjournment is expected to affect the integration schedule, potentially delaying the full consolidation of STAAR’s operations into Alcon’s global platform. While the new meeting date provides a window for further negotiations, it also signals that the transaction is not yet a certainty, which may influence how investors and analysts assess Alcon’s strategic trajectory and the value proposition of the combined entity.
In summary, Alcon’s adjournment of the STAAR shareholder meeting reflects a strategic pause designed to address shareholder objections and align integration plans, while the split proxy‑advisor stance and ongoing opposition highlight the continued uncertainty surrounding the merger’s completion.
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