US/EU: EC to decide next month on $13.4B pharma merger

The European Commission is slated to rule by July 9 on the latest in a series of consolidation deals in the globe’s pharmaceutical industry.

According to reports, the Commission is set to decide on whether to approve of Zimmer Holding’s offer for Biomet; the US-based orthopedic product maker submitted a bid of $13.4 billion.

According to reports, it would make Zimmer the world’s second-largest company in the industry behind Johnson & Johnson.

According to the Commission Zimmer first filed for EU clearance of the deal on June 3. The companies said they expect to finalize the deal in the first quarter of 2015.

Full content: Euronews

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.