Zimmer (NYSE:ZMH) today said that anti-trust regulators in Japan approved its pending merger with cross-town orthopedics rival Biomet, setting the stage for the $13.35 billion deal to close next month.
Warsaw, Ind.-based Zimmer said the Japan Fair Trade Commission cleared the deal, "thereby satisfying 1 of the conditions necessary for the consummation of the transaction."
"Zimmer noted that it is pleased with and encouraged by the progress to date with the overall regulatory process and expects to close the transaction in April 2015," the company said in a press release.
Rumors surfaced last week that the deal is set for conditional approval from European Union regulators. Zimmer, which would become the No. 2 player in the $45 billion global orthopedics market after the acquisition, revised its concessions to the European Commission last month, saying they were generally consistent with an earlier package.
In December the company proposed selling 1 brand for partial, or unicompartmental, knee replacements and 1 elbow brand in Europe, as well as a knee replacement brand in 2 European countries.
Also last week, Biomet said the U.S. Justice Dept. extended by a year a deferred prosecution agreement reached in 2012 over alleged violations of the Foreign Corrupt Practices Act.