WMGI Wright Medical Group NV

By Ian Walker

The U.K. Competition and Markets Authority said Tuesday that it has started an initial probe into Stryker Corp.'s acquisition of Wright Medical Group NV, and that it is inviting comments from interested parties ahead of a formal investigation.

The regulator said that it is looking to see if the deal will lead to a substantial lessening of competition within any U.K. market for goods or services. It has set a May 5 deadline for interested parties to comment.

Last November, Dutch medical-devices maker Wright Medical agreed to be acquired by Stryker for about $4 billion--or $30.75 a share--in cash.

Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749

(END) Dow Jones Newswires

April 21, 2020 08:39 ET (12:39 GMT)

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