01:25 PM EDT, 10/08/2025 (MT Newswires) -- STAAR Surgical ( STAA ) reaffirmed its support for the proposed $1.5 billion acquisition by Alcon ( ALC ) , pushing back against proxy advisory firm Glass Lewis' recommendation that shareholders vote against the merger.

In a statement Wednesday, STARR's board said Alcon ( ALC ) is offering stockholders a 59% premium to the volume-weighted average price, and warned that rejecting the deal might allow major shareholder Broadwood Partners to gain control without paying a premium,

"Glass Lewis's recommendation and findings underscore our strong belief that STAAR conducted a highly questionable sale process that resulted in an ill-timed deal that significantly undervalues the company and its compelling prospects," said Neal Bradsher, founder and president of Broadwood, which owns 27.5% of STAAR's shares.

"We are confident that better alternatives exist than this deeply flawed and short-sighted transaction," Bradsher said in a statement.

STARR shares rose 0.8% in recent Wednesday trading, and Alcon ( ALC ) gained 1.8%.

Price: 26.93, Change: +0.21, Percent Change: +0.79