Alcon Inc. (ALC) announced on Monday that it has agreed with LENSAR, Inc. (LNSR) to terminate their previously announced merger agreement.
The medical device company Alcon cited prolonged regulatory review and related costs as the reason for the decision, after opposition from the Federal Trade Commission.
The regulatory review had been ongoing for nearly a year. Alcon, which operates in the ophthalmology industry, stated that it remains focused on advancing cataract surgery technologies to improve efficiency for surgeons and outcomes for patients.
ALC closed Monday's trading at $77.79 up $0.47 or 0.61 percent on the New York Stock Exchange.
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