Zimmer Biomet completes offer for outstanding shares of LDR Holding
Zimmer Biomet Holdings Inc. announced it has completed its offer to purchase outstanding shares of common stock from LDR Holding Corporation for $37 per share, net to the seller in cash without interest, less any deductions or withholding of taxes required by applicable law, according to a press release.
“We are excited to officially welcome LDR to the Zimmer Biomet Family,” David Dvorak, president and chief executive officer of Zimmer Biomet, said in the release. “Together with LDR, Zimmer Biomet will be a leader in the $10 billion global spine market and well-positioned in the fast growing cervical disc replacement segment. Importantly, this combination is consistent with our goal of driving meaningful growth across all musculoskeletal markets with innovative products, technologies and services that enhance patient outcomes.”
According to the release, after the merger is completed, LDR will be an indirect wholly owned subsidiary of Zimmer Biomet and common stock for LDR will no longer be listed on the NASDAQ global select market.