FTC asks Zimmer for more information on Biomet acquisition

The U.S. Federal Trade Commission (FTC) has requested additional information (a second request) from both Zimmer Holdings and Biomet in connection with Zimmer's previously announced acquisition of Biomet.

The request for information falls under the provisions of the Hart-Scott-Rodino Antitrust Improvements (HSR) Act of 1976. In a press release from Zimmer, the company stated both Zimmer and Biomet will "continue to work closely" with the FTC as the proposed acquisition is reviewed. The companies expect the transaction to be closed in early 2015.

The proposed transaction remains subject to the expiration or termination of the waiting period under the HSR Act, antitrust clearance in certain foreign jurisdictions, and other customary closing conditions.

Zimmer and Biomet announced in late April an agreement for Zimmer to acquire Biomet in a cash and stock transaction valued at approximately $13.35 billion, including the assumption of net debt.

Page 1 of 22
Next Page