U.S. FTC Seeks Addl Information On Zimmer's Proposed Acquisition Of Biomet

(RTTNews) - Zimmer Holdings Inc. (ZMH) and Biomet Inc. announced that they have each received a request for additional information from the United States Federal Trade Commission or "FTC" in connection with Zimmer's previously announced proposed acquisition of Biomet.

The second request was issued under the notification requirements of the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended. The effect of the second request is to extend the waiting period imposed by the HSR Act until 30 days after Zimmer and Biomet have substantially complied with the request, unless that period is extended voluntarily by the parties or terminated sooner by the FTC.

Zimmer said that the company and Biomet will continue to work closely with the FTC as it conducts its review of the proposed transaction. Zimmer and Biomet expect to close the transaction in the first quarter of 2015.

In Late-April, Zimmer said it agreed to acquire Biomet Inc., a privately held surgical and non-surgical products maker, in a cash and stock deal valued at about $13.35 billion, including the assumption of net debt.