CMA To Consider Undertaking On Stryker-Wright Medical Deal - Quick Facts

(RTTNews) - The Competition and Markets Authority stated that the anticipated acquisition by Stryker Corp. of Wright Medical may result in a substantial lessening of competition within a market or markets in the United Kingdom. As a result, the CMA is considering whether to accept an undertaking under section 73 of the Enterprise Act 2002 in lieu of a reference. The companies have until 7 July 2020 to offer an undertaking to the CMA that might be accepted by the CMA under section 73(2) of the Enterprise Act 2002.

In November 2019, Stryker agreed to acquire Wright Medical Group N.V. for $30.75 per share. On Monday, Stryker said that its indirect, wholly owned subsidiary, Stryker B.V., has extended the offering period of its previously announced cash tender offer for Wright Medical. The tender offer is now scheduled to expire on August 31, 2020.