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Zimmer Holdings, Inc. Announces Agreement to Acquire Abbott Spine, an Innovator in Spinal Technology.

Publication: Journal of Technology
Publication Date: 16-SEP-08
Format: Online
Delivery: Immediate Online Access

Article Excerpt
Zimmer Holdings, Inc. (NYSE:ZMH) announced that certain of its subsidiaries have agreed to acquire the Abbott Spine business from Abbott for approximately $360 million in cash. Zimmer said it expects to fund the purchase price from cash on hand and borrowings under existing credit facilities.

The acquisition is expected to close in the fourth quarter of 2008. The boards of directors of both companies have approved the transaction, which is subject to regulatory approvals and other customary closing conditions. Stockholder approval is...

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