Zimmer Addressing Concerns About Biomet Deal

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The proposed merger of two Warsaw-based orthopedics companies has hit a hurdle. The European Commission announced last week that the information it has received about the Zimmer Holdings Inc. (NYSE: ZMH) – Biomet Inc. deal is incomplete. Zimmer says it is working to address the concerns and still plans to close the $13 billion acquisition next year. Zimmer released the following statement last week:

“On June 11, 2014, the European Commission declared that the initial notification submitted for the Zimmer and Biomet merger is incomplete. Zimmer is working with the Commission to provide additional requested information and the Company expects to file an updated notification with the Commission in the near term. Zimmer continues to expect the transaction to be cleared and to close the merger in the first quarter of 2015.”Source: European Commission, Zimmer Holdings Inc.