Company: STAA
Filing Date: 2025-11-03
Form Type: DFAN14A
Source: 0001213900-25-105253
Chunk: 8

Company: STAAR SURGICAL CO
Filing Date: 2025-11-03
Form: DFAN14A
Chunk 8
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Published 10/31/2025, 10:44 AM | Updated 10/31/2025, 03:36 PM

Investing.com -- STAAR Surgical Company (NASDAQ:STAA) privately asked Alcon AG (NYSE:ALC) to sweeten its $28-per-share takeover offer,
but Alcon rejected the request, according to supplemental proxy materials filed late Thursday.

The filing marks the first time STAAR has acknowledged that the deal
may fail if it is not amended, stating that “the likelihood of [a failed shareholder vote] is increased if there is no amendment
or modification to the existing terms of the Merger Agreement.”

The disclosure follows Investing.com’s earlier reporting that
roughly 72% of outstanding shares had already voted against the merger ahead of the original October 23 meeting, suggesting the transaction
was on track to be blocked.

In a new development, a source familiar told Investing.com that little
over 18% of STAAR shareholders voted for the merger ahead of an October 23 shareholder meeting, while only around 8% voted for the deal’s
controversial compensation package.

According to the new disclosures, STAAR’s board met repeatedly
between October 15 and October 24, debating potential amendments to the merger, including a possible price increase or a new 45-day “go-shop”
period that would allow the company to solicit other bids.

On the morning of October 23, hours before the now-postponed shareholder
vote, CEO Stephen Farrell informed the board that Alcon had “rejected STAAR’s request that Alcon agree to an increase in the
Merger Consideration.” STAAR’s directors subsequently agreed to adjourn the meeting, citing a need for more time to negotiate.

Alcon later proposed a go-shop period that would remove its matching
rights and termination fee, but STAAR’s board refused to amend the merger agreement without a concurrent price bump. The board also
reset the record date for voting to October 24 and pushed the special meeting back to December 3 to “allow ongoing discussions.”

Broadwood Partners, STAAR’s largest shareholder with a 27.5%
stake, and Yunqi Capital, which owns about 5.1%, remain publicly opposed to the deal. All three leading proxy advisory firms, ISS, Glass
Lewis, and Egan-Jones, have also urged investors to vote against it.

Yunqi further criticized STAAR on Friday, sending a letter to the company’s
Board