FTC Looks for Input on Wright-Tornier Merger
The FTC is seeking feedback on the proposed consent agreement that paves the way for the merger between Tornier and Wright Medical Group.
The consent agreement, published in the Oct. 8 Federal Register, is meant to resolve FTC accusations that the proposed $3.3 billion merger would lead to unfair methods of competition.
It details the planned divestiture of Tornier’s U.S. rights and assets to its total ankle and total silastic toe joint replacements to Integra Lifesciences.
Last month, Tornier and Wright said that they would sell the rights to these orthopedic devices to Integra.
It’s been about a year since the two said they planned to combine. The all-stock deal caught the attention of the FTC.
According to the consent agreement, the parties have 10 days after consummating the merger to relinquish their rights to Integra.
If, following a review, the FTC deems Integra an unacceptable buyer, the parties must scuttle the deal and find a commission-approved purchaser within six months.
Based on the comments it receives, the FTC will decide whether to withdraw from the consent agreement, modify it or make it final.
Comments are due Oct. 30. Read the analysis here:. – Elizabeth Hollis