UK CMA Mulls Undertaking Acceptance in Stryker Corp. Acquisition of Wright Medical
June 30 2020 - 9:47AM
Dow Jones News
By Adriano Marchese
The U.K.'s Competition and Market Authority said Tuesday that it
believes that the acquisition by Stryker Corp. of Wright Medical
Group NV is or may result in substantial lessening of competition
in the country.
The regulator said that it is considering whether to accept an
undertaking in lieu of a reference--which would mean that the
parties have until July 7 to offer a pledge or promise that might
be accepted by the CMA.
Last November, Dutch medical-devices maker Wright Medical agreed
to be acquired by Stryker for about $4 billion--or $30.75 a
share--in cash.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
June 30, 2020 09:32 ET (13:32 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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