Stryker reached all regulatory requirements for its proposed acquisition of Wright Medical, according to a Nov. 4 press release.
The U.S. Federal Trade Commission voted to approve the transaction Nov. 3, and the U.K. Competition and Markets Authority approved the transaction early Nov. 4, the press release said. The acquisition is expected to be completed Nov. 10.
"We are pleased to receive the necessary regulatory approvals for the proposed acquisition of Wright Medical and to be moving ahead with the offer to the company's shareholders," Kevin Lobo, chair and CEO of Stryker, said in a statement. "Wright Medical has built a successful business, and together we look forward to working with customers to continue delivering solutions that improve patient outcomes."
Read the full press release here.