Zimmer proposes remedy package to European regulators

• In an effort to facilitate its approval of its planned acquisition of Biomet, Zimmer Holdings (ZMH -0.1%) proposes a remedy package to the European Commission (EC). It includes the divestiture of one unicompartmental knee brand and one elbow brand in the European Economic Area (EEA) and one total knee brand in two EEA countries.
• The EC will market test the remedy package in the coming days. Meanwhile, it has "stopped the clock" on its review of the merger. Zimmer expects the transaction to close in Q1 2015.
• Previously: EC extends review period for Zimmer/Biomet deal (Nov. 18, 2014)
• Previously: Zimmer to acquire Biomet for $13.35B (April 24, 2014)