UK's CMA Says Stryker's Divestments Resolve Concerns on Wright Medical Acquisition
November 04 2020 - 6:29AM
Dow Jones News
By Jaime Llinares Taboada
The U.K.'s Competition and Markets Authority said Wednesday that
it has accepted a proposal from Stryker Corp. to sell its U.K.
ankle prostheses business, facilitating regulatory green light for
the company's acquisition of Wright Medical Group NV.
The competition watchdog, which had argued that the deal could
hurt U.K. patients who need ankle replacements, said that it is
satisfied with the divestment as it will address its competition
concerns.
Stryker, a U.S. provider of medical-technology products and
services, announced the $4 billion cash acquisition of Wright in
November 2019.
Write to Jaime Llinares Taboada at jaime.llinares@wsj.com;
@JaimeLlinaresT
(END) Dow Jones Newswires
November 04, 2020 06:14 ET (11:14 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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