Dec. 10 at 7:00 PM
STAAR Surgical shares fell Wednesday as Yunqi Capital became the latest major investor to oppose Alcon’s raised
$30.75-per-share takeover offer. The
$1.6 billion bid, increased to ease shareholder backlash, now faces significant resistance ahead of the Dec. 19 vote.
Yunqi, which owns 5.1%, urged investors to reject the deal, arguing—like top holder Broadwood—that STAAR is recovering and at a strategic turning point, making a sale premature. It cited improving operating trends and normalizing inventory in China.
The firm also dismissed the 30-day go-shop as too short, restrictive, and lacking transparency due to NDA terms that could deter rival bidders. Yunqi said the 74% premium over the 90-day VWAP overstates value relative to STAAR’s long-term potential, joining Broadwood (30.2%) in rejecting the bid.
$STAA $ALC