European Commission Delays Review of Zimmer-Biomet Deal
Posted
Staff Report-
BRUSSELS – Citing a lack of details in the submission, the European Commission paused review of Zimmer’s $13.4 billion purchase of Biomet Wednesday, Reuters reports. Zimmer sought clearance on the purchase June 3 from the executive body of the European Union. Antitrust regulators can approve the deal, demand concessions or open a lengthy investigation if there are regulatory concerns, Reuters reported at the time of the filing. The incomplete filing delays the expected July 9 deadline for the commission’s decision, though Zimmer said in a statement that it will provide the information and expects to close on the merger in the first quarter of 2015. “Zimmer is working with the commission to provide additional requested information and the company expects to file an updated notification with the commission in the near term,” the release states.
