UK CMA Seeks Comments About Stryker, Wright Medical Offer Before Making Ruling

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)

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