Zimmer Provides Update On Centerpulse Acquisition

July 28, 2016 at 4:25 p.m.

By Staff Report-

Zimmer Holdings Inc. announced Monday it has reviewed certain accounting issues at Centerpulse AG in response to the disclosure of the U.S. Securities and Exchange Commission's informal investigation of Centerpulse.

Although Zimmer cannot provide any assurance as to the timing or nature of the ultimate outcome of the SEC investigation, Zimmer did not become aware of any facts during its examination that alter its views regarding the long-term fundamental value of Centerpulse.

Zimmer also announced that the United Kingdom competition authority has issued a standard request for comment to establish whether Zimmer's acquisition of Centerpulse may be subject to U.K. competition review. The company expects a favorable outcome of this review. Zimmer was not required to make any formal filings with the U.K. competition authority. This review will not delay the scheduled expiration of Zimmer's offers for Centerpulse and InCentive Capital AG.

Zimmer's offers for Centerpulse and InCentive Capital were made in May and expired at 9 a.m. local time today. To ensure that Zimmer's minimum tender conditions of 66-2/3 percent (in the case of the Centerpulse offer) and 80 percent (in the case of the InCentive offer) were satisfied by the expiration date of Zimmer's offers, shareholders who wished to tender their shares into Zimmer's offers must have tendered their shares by the deadline.

Final share counts and additional information will not be available until Friday. [[In-content Ad]]

Zimmer Holdings Inc. announced Monday it has reviewed certain accounting issues at Centerpulse AG in response to the disclosure of the U.S. Securities and Exchange Commission's informal investigation of Centerpulse.

Although Zimmer cannot provide any assurance as to the timing or nature of the ultimate outcome of the SEC investigation, Zimmer did not become aware of any facts during its examination that alter its views regarding the long-term fundamental value of Centerpulse.

Zimmer also announced that the United Kingdom competition authority has issued a standard request for comment to establish whether Zimmer's acquisition of Centerpulse may be subject to U.K. competition review. The company expects a favorable outcome of this review. Zimmer was not required to make any formal filings with the U.K. competition authority. This review will not delay the scheduled expiration of Zimmer's offers for Centerpulse and InCentive Capital AG.

Zimmer's offers for Centerpulse and InCentive Capital were made in May and expired at 9 a.m. local time today. To ensure that Zimmer's minimum tender conditions of 66-2/3 percent (in the case of the Centerpulse offer) and 80 percent (in the case of the InCentive offer) were satisfied by the expiration date of Zimmer's offers, shareholders who wished to tender their shares into Zimmer's offers must have tendered their shares by the deadline.

Final share counts and additional information will not be available until Friday. [[In-content Ad]]

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