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EU decision on Zimmer's $13.4 billion Biomet deal expected by October 3
September 1, 2014 / 11:42 AM / in 3 years

EU decision on Zimmer's $13.4 billion Biomet deal expected by October 3

BRUSSELS (Reuters) - European Union antitrust regulators will decide by Oct. 3 whether to give the green light to U.S. orthopaedic products maker Zimmer Holdings’ ZMH.N $13.4 billion (8.06 billion pounds) takeover of rival Biomet Inc.

The European Commission, which published the deadline on its website on Monday, can clear the deal unconditionally, demand concessions to allay competition concerns or open a broad investigation.

Zimmer had sought EU approval in June but the EU competition watchdog halted its review because the company’s submission lacked some details.

The deal, which would make Zimmer the second-largest seller of orthopaedics products behind Johnson & Johnson (JNJ.N), will boost the company’s presence in the fast-growing sports medicine sector, Zimmer said.

Reporting by Foo Yun Chee; Editing by David Goodman

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