The initial termination date was April 24 however, the merger agreement included terms that allowed either party to extend the termination date for an additional 90 days if regulatory clearances were yet to be obtained.
The merger is moving forward slowly but surely. Last month, the European Commission conditionally cleared Zimmer to acquire Biomet. In the United States, the FDA is yet to approve the merger. Zimmer will assume Biomet’s net debt as part of the transaction.
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