STAAR Stock Drops 10% After Shareholders Reject Alcon Merger Proposal

(RTTNews) - STAAR Surgical Company (STAA) shares fell 10.23%, trading at $21.49, down $2.45, following news that the company will terminate its merger agreement with Alcon Inc. after failing to secure enough shareholder votes at a special meeting.

The preliminary results showed that STAAR did not receive the required support to approve the acquisition by Alcon, prompting the company to end the deal and remain an independent, publicly traded business. Neither party will incur a termination fee.

CEO Stephen Farrell said the board respected the vote outcome and intends to focus on maximizing shareholder value by advancing sales growth, distribution efficiency, and broader adoption of the company's EVO ICL vision-correction technology.

Trading volume for STAA was elevated, reflecting investor response to the failed transaction and uncertainty about the company's future direction as it continues standalone operations. Market participants will likely be watching for further strategic updates and performance guidance.