03.25.15
The Japan Fair Trade Commission has cleared Zimmer Holdings Inc.’s proposed acquisition of Biomet Inc.
The decision satisfies one of the key conditions necessary for the deal to close. The transaction, however, remains subject to the expiration or termination of the applicable waiting periods under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 in the United States and the European Union Merger Regulation, as well as other customary closing conditions.
Rumors have been swirling during this week’s American Academy of Orthopaedic Surgeons annual meeting being held in Las Vegas, Nev. (March 24-28) that the announcement of a finalized deal would come during the yearly event.
Zimmer officials noted that they are "pleased with and encouraged” by the progress so far with the overall regulatory process. They expect the deal to close the transaction in April 2015.
Under the terms of the merger agreement announced on April 24 last year, Zimmer will acquire Biomet in a cash and stock transaction valued at approximately $13.35 billion, including the assumption of net debt.
Both companies are located in Warsaw, Ind.
Zimmer makes orthopedic reconstructive, spinal and trauma devices, dental implants and related surgical products. Zimmer's 2014 sales were approximately $4.7 billion.
The decision satisfies one of the key conditions necessary for the deal to close. The transaction, however, remains subject to the expiration or termination of the applicable waiting periods under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 in the United States and the European Union Merger Regulation, as well as other customary closing conditions.
Rumors have been swirling during this week’s American Academy of Orthopaedic Surgeons annual meeting being held in Las Vegas, Nev. (March 24-28) that the announcement of a finalized deal would come during the yearly event.
Zimmer officials noted that they are "pleased with and encouraged” by the progress so far with the overall regulatory process. They expect the deal to close the transaction in April 2015.
Under the terms of the merger agreement announced on April 24 last year, Zimmer will acquire Biomet in a cash and stock transaction valued at approximately $13.35 billion, including the assumption of net debt.
Both companies are located in Warsaw, Ind.
Zimmer makes orthopedic reconstructive, spinal and trauma devices, dental implants and related surgical products. Zimmer's 2014 sales were approximately $4.7 billion.