Zimmer Divests Assets
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowWarsaw-based Zimmer Holdings Inc. (NYSE: ZMH) has divested some business assets as part of its more than $13 billion pending acquisition of Biomet Inc. The company says it continues to “work constructively” with the U.S. Federal Trade Commission to address concerns about the proposed deal. Zimmer says it has finalized agreements to divest certain Unicompartmental High-Flex Knee System, Biomet Discovery Elbow System and Cobalt bone cement assets. The deals are subject to further review and approval by the Federal Trade Commission.
The European Commission and Japan Fair Trade Commission have approved the proposed acquisition. Zimmer says it hopes to close the deal in mid-June. The combined organization will be called Zimmer Biomet and led by Zimmer Chief Executive Officer David Dvorak.