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EU: Commission ups scrutiny on Zimmer’s $13.4B takeover

By  |  October 2, 2014

The European Commission is preparing to launch a formal investigation into Zimmer Holding’s planned acquisition of Biomet for $13.4 billion, reports say.

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    Unnamed sources said Thursday that the Commission is concerned the merger will harm competition in the healthcare industry. The Commission had previously set a deadline of October 3 to rule on the deal, though that timeline would be extended if reports of a deeper probe are true.

    Zimmer would become the worlds second-largest orthopedics products seller, behind Johnson & Johnson, following the takeover.

    While the Commission is scrutinizing that deal, the sources said US drug maker Eli Lilly will be unconditionally approved to acquire Switzerland-based Novartis’s animal healthcare business, a $5.4 billion transaction.

    Full content: Reuters

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