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Zimmer's takeout of Biomet cleared in Europe

Mar. 30, 2015 9:19 AM ETZimmer Biomet Holdings, Inc. (ZBH) StockZBHBy: Douglas W. House, SA News Editor
  • The European Commission (EC) conditionally approves Zimmer Holdings' (ZMH) acquisition of Biomet. The EC's clearance is conditional on Zimmer selling certain assets comprising the remedy package previously submitted to the EC which includes the divestment of its Unicondylar Knee implant and Biomet's Discovery Elbow business in the European Economic Area (EEA) and Biomet's Vanguard Total Knee system in Denmark and Sweden.
  • Zimmer expects to close the transaction next month. The approval of the U.S. Federal Trade Commission is pending.

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