Oct. 22 at 7:21 PM
Broadwood Partners, L.P., the largest shareholder of STAAR Surgical, announced plans to call a special meeting to remove several board members, intensifying its campaign against STAAR’s proposed
$28-per-share sale to Alcon AG.
Broadwood said the move follows “overwhelming opposition” to the deal and warned directors not to delay the upcoming shareholder vote or modify the agreement without “meaningful input and alignment with shareholders.”
Founder and Chairman Neal C. Bradsher stated that the current board “no longer has shareholders’ confidence” and called for new directors to lead a transparent review of strategic alternatives “free from conflicts and process flaws” seen in the Alcon deal.
The announcement comes after growing pressure on STAAR’s board.
$STAA $ALC