Here are five things to know:
1. Wright Medical shareholders voted to adopt the merger agreement. The final vote results will be published in a current report on Form 8-K that the company will file with the Securities and Exchange Commission.
2. Tornier shareholders owning 99.36 percent of the shares voted at the meeting to approve the merger.
3. Tornier shareholders also approved proposals to appoint a combined company board of directors and change the company name to Wright Medical Group.
4. The companies are now waiting for the U.S. Federal Trade Commission to approve before the deal can close. Tornier is divesting certain U.S. lower extremity product lines.
5. The transaction is expected to close in the third quarter of this year, pending FTC clearance.
“We are convinced this combination will create the premier, high-growth extremities-biologics company with a broad global reach,” said Wright Medical’s president and CEO Robert Palmisano. “Together, we have one of the most comprehensive upper extremity, lower extremity and biologic product portfolios in the market, extending our leadership position and further accelerating our growth opportunities and path to profitability, all of which we believe will generate long-term value for our shareholders.”
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