The European Commission has reportedly halted its merger investigation into Zimmer Holding’s proposed acquisition of Biomet, announcing Thursday that the regulator will need more information on the deal.
US-based orthopedic product maker Zimmer is looking to acquire Biomet for $13.4 billion, but according to the EU regulator, the merger filing lacks crucial information for the Commission to properly asses the deal. The submission for the deal was filed June 3.
Reports say the transaction would create the industry’s second-largest player behind Johnson & Johnson.
The Commission announced Thursday that the merger application was “incomplete,” causing the watchdog to scrap its initial July 9 date for merger review completion. A new date will be set following the acquisition of the requested information.
Full content: Interactive Investor
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