STAAR Surgical Confirms No Competing Bids After Go-Shop Period
Reuters
Dec 08
STAAR Surgical Confirms No Competing Bids After Go-Shop Period
STAAR Surgical Company has provided an update regarding its proposed merger with Alcon, following the completion of a go-shop period. According to the company, STAAR and its financial advisor, Citi, reached out to 21 potential third-party acquirers, including financial sponsors and strategic buyers previously referenced in STAAR's proxy statement. Of these, two parties signed non-disclosure agreements and engaged in discussions, but no competing acquisition proposals were submitted during the go-shop period. STAAR stated that this process confirms its Board's view that the merger agreement with Alcon represents the best outcome for the company and its stockholders. The company also addressed allegations from Broadwood Partners, L.P., emphasizing that the outcome of the go-shop process undermines claims that additional parties were interested in acquiring STAAR.
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