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0.00118539592223813 0.000862968231389294 0.000948316737790402 0.00284495021337137 0.00142247510668569 -0.00142247510668552 0.0187292555713608 0.0284495021337127
Stock impact report

STAAR shareholders reject Alcon's revised buyout offer [Yahoo! Finance]

STAAR Surgical Company (STAA) 
Last staar surgical company earnings: 2/26 04:01 pm Check Earnings Report
Company Research Source: Yahoo! Finance
STAAR Surgical shareholders have voted to reject Alcon's revised acquisition offer after a contentious proxy battle. The maker of implantable lenses for the eye intends to terminate its merger agreement with Alcon, STAAR said Tuesday, based on the preliminary results from a special shareholder meeting. Final results from the meeting will be reported in a regulatory filing. Neither company will pay a termination fee. STAAR said it would remain a stand-alone, publicly traded company. Its shares fell more than 12%, to trade at $20.92, Tuesday morning on the Nasdaq. Alcon agreed to buy STAAR in August for about $1.5 billion in total equity value. An extended proxy battle between activist investor Broadwood Partners , which owns 30.2% of STAAR's outstanding common stock, and company management followed, delaying a shareholder vote on the deal. In December, Alcon increased its offer price for STAAR to about $1.6 billion. STAAR CEO Stephen Farrell said the company remains committed Show less Read more
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