VERNIER (dpa-AFX) – The ophthalmology group Alcon will not take over the US company Staar Surgical (STAAR Surgical Company). The resistance from Staar’s shareholder circles was ultimately too great. After several postponements, Staar’s shareholders had to vote on Alcon’s improved purchase offer at an extraordinary general meeting on Tuesday. But even before the meeting it became clear that the project had no chance.
Preliminary estimates from a voting rights advisor showed that the yes votes necessary for the sale of Staar to Alcon could not have been achieved, Staar announced on Tuesday afternoon. Staar therefore intends to terminate the merger agreement with Alcon. According to Staar, the termination of the agreement will not have any financial consequences for either party. No termination payments would have to be made.
Reactions to the canceled merger were varied on the stock market. While Alcon’s shares rose on the Swiss stock exchange and were up 2.2 percent at 64.92 francs, the Staar shares traded on the US tech exchange Nasdaq saw a price drop of 13 percent./mk/jb/AWP/jha
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