Read more here – Everything you need to know about the Stryker-Wright acquisition
Stryker to complete Wright Medical acquisition on November 10 (MassDevice)
Stryker (NYSE:SYK) announced today that it has cleared all regulatory hurdles standing in the way of its planned $4.7 billion acquisition of Wright Medical (NSDQ:WMGI).
The Kalamazoo, Mich.–based orthopedic device giant plans to complete the tender offer at its expiration, which is scheduled to take place at 5 p.m. Eastern time on Nov. 10, 2020.
The news comes a day after the U.S. Federal Trade Commission said it plans to allow Stryker to proceed with the acquisition, provided that Stryker divest certain assets to Colfax (NYSE:CFX)/DJO Global. The U.K. Competition and Markets Authority approved the transaction earlier today.
“We are pleased to receive the necessary regulatory approvals for the proposed acquisition of Wright Medical and to be moving ahead with the offer to the company’s shareholders,” Stryker CEO Kevin Lobo said in a news release.
“Wright Medical has built a successful business, and together we look forward to working with customers to continue delivering solutions that improve patient outcomes,” Lobo said.