UK CMA Seeks Comments About Stryker, Wright Medical Offer Before Making Ruling
September 02 2020 - 8:47AM
Dow Jones News
By Ian Walker
The U.K.'s Competition and Markets Authority on Wednesday gave
interested parties the opportunity to offer their comments on its
competition concerns over Stryker Corp.'s acquisition of Wright
Medical Group NV before it makes a final ruling.
The regulator previously said it believes the acquisition is or
might result in substantial lessening of competition in the
country. Stryker has already offered to sell its Scandinavian Total
Ankle Replacement product and related assets to address those
concerns.
The CMA said Wednesday that interested parties have until Sept.
16 to offer any comments. The regulator has until Nov. 4 to decide
whether to accept the undertakings offered, or a modified version
of them.
Dutch medical-devices maker Wright Medical in November agreed to
be acquired by Stryker for about $4 billion--or $30.75 a share--in
cash.
Write to Ian Walker at ian.walker@wsj.com
(END) Dow Jones Newswires
September 02, 2020 08:32 ET (12:32 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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