STAAR Surgical Company (NASDAQ:STAA) surged 15% in Tuesday’s premarket session after Alcon (NYSE:ALC) announced it has raised its acquisition offer through an amended merger agreement.
Under the revised terms, Alcon will acquire all outstanding STAAR shares for $30.75 per share in cash, adding roughly $150 million in equity value for shareholders. The new offer values the company at about $1.6 billion, representing a 74% premium to STAAR’s 90-day VWAP and a 66% premium to its closing price on August 4, 2025.
The announcement comes after the expiration of STAAR’s “go-shop” period on December 6, during which the company had the right to solicit alternative proposals. No higher bids emerged, despite Alcon waiving its matching rights and break-up fee protections during the window.
Beyond the higher price tag, the updated agreement also cuts certain executive payments at STAAR. Alcon intends to fund the deal with a mix of near-term and long-term credit facilities.
Both companies’ Boards have signed off on the amended deal, and STAAR’s Board is urging shareholders to approve the merger at the December 19, 2025 vote.
Alcon expects the acquisition to start adding to earnings by the second year after closing. Pending regulatory and shareholder approvals, the transaction is slated to wrap up in early 2026.
STAAR Surgical is widely recognized for its EVO line of Implantable Collamer Lenses, while Alcon is the world’s largest dedicated eye-care company.