LENSAR Inc. (NASDAQ:LNSR) shares are down during Tuesday’s premarket session following the termination of a merger agreement with Alcon AG (NYSE:ALC).

In March 2025, Alcon agreed to acquire the laser solutions company for $14.00 per share for an aggregate implied value of approximately $356 million.

Alcon Terminates LENSAR Merger

Alcon announced that it has agreed to terminate the merger agreement with LENSAR due to prolonged regulatory reviews that rendered the transaction unattractive.

The CEO of Alcon, David Endicott, emphasized that the acquisition would have significantly enhanced innovation in cataract surgery but cited the Federal Trade Commission’s opposition as a major factor in their decision.

“Alcon continues to believe that the acquisition of LENSAR would have significantly enhanced FLACS innovation and competition to the benefit of surgeons and patients. ...