Your Dashboard for the Zimmer - Biomet Merger
ZIMMER BIOMET DEAL CLOSES (Orthopedics This Week)
Zimmer Biomet has finally been born.
Zimmer Holdings, Inc. said on June 24, 2015 that is has received U.S. Federal Trade Commission (FTC) clearance for the merger with Biomet Inc. after agreeing to sell its Unicompartmental High Flex Knee (ZUK) system in the U.S. market to Smith & Nephew. The ZUK deal will close within three business days after the Zimmer Biomet deal is closed.
Zimmer Biomet's President and CEO Dave Dvorak says the $14 billion acquisition is completed and it's a "momentous achievement." He even unveiled the new company logo and a new stock market ticker symbol, ZBH. The new symbol will start trading on June 29, 2015. The new company also unveiled its new tagline—"Your progress. Our promise."
Glenn Novarro of RBC Capital Market said there is "some initial confusion" over when the deal could officially close given the language of a 30-day public comment period. He says that when Johnson & Johnson closed the Synthes deal shortly (June 14, 2011) after the proposed FTC settlement (June 11, 2011), the FTC did not issue its final consent order until August 7.
Nuts and ...
