Alcon Inc. today announced that it has lifted its bid to acquire Lake Forest-based Staar Surgical Co. to $30.75 per share, or approximately $1.6 billion.
The new offer adds $150 million to Alcon’s original offer of $28 per share, or $1.5 billion. Alcon said that it’s also reducing payments to Staar executives in addition to the increased acquisition price.
The original deal, announced in August, was met with opposition from Staar’s largest shareholder, Broadwood Partners, which owns a 30.2% stake in Staar.
The shareholder meeting to vote on the proposed merger has been rescheduled to Dec. 19, following multiple postponements in October and November.
Shares in Staar rose 11.4% to $26.23 and a $1.3 billion market cap (Nasdaq: STAA).
