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Stock impact report

Broadwood slams STAAR board over “carelessness” in Alcon sale defense [Yahoo! Finance]

Alcon Inc. Ordinary Shares (ALC) 
Last alcon inc. ordinary shares earnings: 2/25 04:30 pm Check Earnings Report
Company Research Source: Yahoo! Finance
the company's board ahead of the October 23 vote on its $28-per-share sale to Alcon (NYSE:ALC), accusing directors of “carelessness” after a new proxy report suggested they may have approved the deal without full information. In a letter Friday, Broadwood blasted the board for reaffirming support for the merger “within twelve hours” of a Glass Lewis report that alleged key executives withheld details about interest from another potential buyer. “We find the Board's apparent haste to look past the new developments very troubling,” Broadwood wrote, before launching into a series of questions. The firm pressed the board to explain how it reaffirmed support so quickly, asking when directors met, whether they re-evaluated the deal's fairness with advisers, and if previously undisclosed acquisition interest was ever fully discussed before endorsing the Alcon merger. “At worst, this Board has again given proper process short shrift and, at best, has acted so swiftly as to lack credib Show less Read more
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