Recon

EU Regulators Halt Review of Zimmer’s $13 Billion Biomet Bid

(Reuters) – The European Commission halted its review of Zimmer Holdings Inc’s $13.4 billion bid for Biomet Inc on Thursday, saying the U.S. orthopedic products maker’s submission lacked some details.

Zimmer sought European Union clearance on June 3 for the deal that would make it the second-biggest in the sector, behind market leader Johnson & Johnson.

“The notification that the Commission received was incomplete,” Commission spokesman for competition policy Antoine Colombanni said.

The watchdog scrapped its July 9 deadline for a decision on the deal and will set a new date once Zimmer provides the required data.

(Reporting by Foo Yun Chee; Editing by Erica Billingham)

Josh Sandberg

Josh Sandberg is the President and CEO of Ortho Spine Partners and sits on several company and industry related Boards. He also is the Creator and Editor of OrthoSpineNews.

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