STAAR Surgical Company (STAA), Tuesday announced that it did not receive the necessary stockholder votes to approve the merger agreement with Alcon at the Special Meeting of Stockholders.
Following the announcement, which is based on preliminary estimates by STAAR's proxy solicitor, the company plans to terminate Alcon merger agreement and continue to remain a standalone, publicly traded company.
CEO Stephen Farrell commented, "We respect the outcome of the vote and look forward to working collaboratively with shareholders to ensure the best possible outcome for STAAR as a stand-alone company."
In the pre-market hours, STAA is moving down 18.55 percent, to $19.50 on the Nasdaq.
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