08:03 AM EDT, 10/03/2025 (MT Newswires) -- STAAR Surgical ( STAA ) shareholders were urged by Broadwood Partners on Friday to vote against the company's proposed acquisition by Alcon ( ALC ) , with the investment firm saying the deal "significantly undervalues" STAAR.

Neal Bradsher, president of Broadwood, said in an 81-page presentation that the proposed transaction "comes at the wrong time, after the wrong process, and at the wrong price."

Bradsher said "there was no compelling reason to sell STAAR at this time," accusing the board of agreeing to a price that "significantly undervalues STAAR and its bright future."

Alcon ( ALC ) said on Aug. 5 that it agreed to acquire STAAR for $28 per share in cash, or $1.5 billion.

Broadwood said it and affiliates own a 27.5% stake in STAAR. Bradsher said Yunqi Capital, which owns 5.1% stake and David Bailey, former STAAR CEO, have also publicly opposed the deal.

Neither STAAR nor Alcon ( ALC ) immediately responded to requests for comment from MT Newswires.