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EU: Zimmer wins EU approval for $13.4 billion Biomet acquisition

By  |  March 30, 2015

U.S. medical device maker Zimmer gained European Union regulatory approval on Monday for its proposed $13.4 billion purchase of rival Biomet after agreeing to divest three businesses in Europe to allay competition concerns.

Zimmer, set to become the No. 2 player in the $45 billion global orthopedics market following the deal, will sell its knee implant unit and Biomet’s elbow implant unit in Europe, as well as BioThe divestments include pipeline projects, intellectual property rights, licenses and customer contracts.

The European Commission said the businesses will be sold to one or several rivals.

 

Full Content: The Wall Street Journal

 

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