February 10, 2015 / 6:22 PM / 4 years ago

EU regulators set new May 26 deadline for Zimmer's Biomet deal

BRUSSELS, Feb 10 (Reuters) - European Union antitrust regulators will decide by May 26 whether to approve U.S. medical device maker Zimmer’s $13.4 billion bid for rival Biomet after Zimmer modified concessions to allay competition concerns.

The European Commission set the new deadline after a two-month pause in its scrutiny of a deal that would make Zimmer the world’s second-largest seller of orthopaedic products behind Johnson & Johnson.

Zimmer said it still hopes to gain regulatory approval in the first quarter of this year.

It did not provide details of its revised concessions but said they were generally consistent with the initial package.

Biomet is based in the United States but has a focus on orthopaedics from its European headquarters in Dordrecht, Netherlands. (Reporting by Foo Yun Chee; Editing by David Goodman)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below