Zimmer’s pending buy of Biomet has passed the review of the Japan Fair Trade Commission. The commission announced Wednesday it concluded that the $13.35 billion acquisition is unlikely to affect competition. According to the announcement, the commission “reviewed the integration and reached the conclusion that, given the remedies proposed by the parties, competition in any particular fields of trade is unlikely to be substantially restrained. Accordingly, the JFTC has notified the parties that it will not issue a cease and desist order, resulting in the completion of its review.” The JFTC based its approval on the premise that Zimmer will divest itself of one elbow and two knee brands in Europe, as the company proposed as a “remedy package” to the European Commission, the announcement states. While conducting its review, which began in August, the JFTC exchanged information with the U.S. Federal Trade Commission and the European Commission, two regulatory agencies that also must weigh the acquisition before it can be completed. The EC is expected to announce its conditional approval in the coming weeks.
