As previously announced, the
European Commission has conditionally cleared Zimmer's proposed acquisition of Biomet. The Japan Fair Trade Commission also has granted clearance of the pending transaction. The transaction remains subject to clearance by the U.S. Federal Trade Commission (the "FTC"), as well as other customary closing conditions. Zimmer continues to work closely with the FTC and expects to receive clearance for the proposed transaction from the FTC by the end of April or shortly thereafter.
Under the terms of the Merger Agreement, Zimmer will acquire
Biomet in a cash and stock transaction valued at approximately $13.35 billion, including assumption of net debt.
Founded in 1927 and headquartered in
Warsaw, Indiana, Zimmer designs, develops, manufactures and markets orthopaedic reconstructive, spinal and trauma devices, dental implants and related surgical products. Zimmer has operations in more than 25 countries around the world and sells products in more than 100 countries. Zimmer's 2014 sales were approximately $4.7 billion. Zimmer is supported by the efforts of more than 9,000 employees worldwide.
Published at - Zimmer Inc.