Brief: Broadwood Announces Intent To Vote Against Acquisition Of Staar Surgical By Alcon
02/09/2025 12:05
Sept 2 (Reuters) - Broadwood Partners, the largest shareholder of STAAR Surgical STAA.O, said on Tuesday it intended to vote against Alcon's ALCC.S proposed acquisition of the company, saying the Swiss eye care group's offer did not reflect STAAR's recent financial improvements. The investment firm, which holds a 27.5% stake in STAAR, said it was disappointed with STAAR's board of directors for choosing to sell the company without a comprehensive sale process, and urged it to reconsider its recommendation of the offer. It also raised concerns over the timing of the proposed deal in relation to an upcoming clinical trial publication. (Reporting by Maria Rugamer in Gdansk, editing by Milla Nissi-Prussak) ((maria.rugamer@thomsonreuters.com;))