EU Antitrust Regulators Push Back Approval Date for Zimmer-Biomet Merger

Antitrust regulators in the European Union recently announced that they plan to decide by May 26 whether to approve Zimmer Holding Inc.’s bid for its orthopedic rival Biomet Inc.

The EU decided to move back its decision date following a move by Zimmer to modify certain concessions in the deal to respond to competition concerns. The new deadline comes after a two-month pause regulators’ scrutiny of a deal. Zimmer did not provide details of its revised concessions but said they were “generally consistent” with the initial package, according to a release from the company.

Zimmer officials said they still plan on regulatory approval in the first quarter of this year.

Under the terms of the merger agreement announced on April 24, 2014, Zimmer will acquire Biomet in a cash and stock transaction valued at approximately $13.35 billion, including the assumption of net debt.

Biomet and Zimmer are both based in Warsaw, Ind.