Jana granted regulatory clearance for Zimmer Biomet stake

Jana granted regulatory clearance for Zimmer Biomet stake

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Michael Flaherty – July 13, 2017

(Reuters) – Jana Partners was granted regulatory clearance on Thursday for its purchase of shares in medical device maker Zimmer Biomet Holdings Inc, in a sign that the hedge fund is set to build its stake and press for changes at the company.

Jana on Thursday was granted early termination under the antitrust Hart-Scott-Rodino Act, a public filing required by the U.S. Federal Trade Commission’s when an investor buys shares in a company above a certain threshold.

The actual size of Jana’s stake in the company is not yet clear, nor are the hedge fund’s plans. Jana and Zimmer Biomet declined to comment.

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