Zimmer Holdings Inc. has agreed with the European Commission to extend the deadline for the commission’s review of Zimmer’s proposed acquisition of Biomet by a “limited number of days” in order to provide additional information. Zimmer has been working closely with the regulatory authorities to facilitate their review of the pending transaction, according to the company’s announcement Tuesday, and says it is “encouraged by the substantial progress that has been made to date in connection with the overall regulatory process.” Zimmer still expects to close the $13.35 billion transaction in the first quarter of 2015. Under the previous timeline, the commission had until March 11, 2015, to make a final decision on the proposed transaction. With the extension, the deadline for the commission’s final decision will be extended by the limited amount of additional time that Zimmer has agreed to provide. The transaction also remains subject to the expiration or termination of the applicable waiting periods under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, approval from the Japan Fair Trade Commission and other customary closing conditions, the announcement states.
