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EU: In-depth probe opened into Zimmer, Biomet merger

 |  October 5, 2014

US medical device company Zimmer is facing an in-depth probe by competition authorities in Europe over its proposed buyout of Biomet for $13.4 billion, reports say.

The European Commission said Friday it opened a formal investigation of the transaction to pressure Zimmer into offering concessions to secure regulatory clearance for the buyout. Reports say following the takeover, Zimmer will become the world’s second-largest seller of orthopedic products behind Johnson & Johnson.

The Commission will reportedly rule on the deal by February 16 of next year.

Full content: Reuters

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