NEW YORK - Activist investor Carl Icahn and Southeastern Asset Management Inc have initiated talks with banks and asset managers to line up commitments for as much as $7 billion in bridge loans to back their leveraged recapitalization proposal for Dell Inc, banking sources told Thomson Reuters LPC on Thursday.
LONDON - From ketchup to hot drinks, family-run investment firms are shaking up the consumer deals market, squeezing out private equity players and forcing them to change strategy.
BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.
Johnson & Johnson wins US approval to buy Synthes
WASHINGTON (Reuters) - Johnson & Johnson (JNJ.N) has won U.S. antitrust approval to buy Swiss medical device company Synthes Inc SYST.VX if it sells some assets, the Federal Trade Commission said on Monday.
Johnson & Johnson will sell its system for surgically treating serious wrist fractures, and related assets, to Biomet Inc LVBHAB.UL as a requirement for approval, the FTC said.
European antitrust officials approved Johnson & Johnson's deal to buy Synthes, valued at about $21 billion, on April 19.
Johnson & Johnson and Synthes together have about 70 percent of the market for plating systems used to surgically repair fractures in the radius bone nearest the wrist, the FTC said.
Such injuries often occur when a falling person tries to catch himself or herself.
"J&J and Synthes are direct competitors for these important systems used in the surgical treatment of traumatic wrist fractures," said Richard Feinstein, director of the FTC's Bureau of Competition.
The deal should close within the week.
"We are pleased with the FTC's clearance of our acquisition of Synthes and look forward to moving ahead to closing," said Johnson & Johnson spokesman Alfred Wasilewski.
Biomet's plan to acquire DePuy Orthopaedics, the Johnson & Johnson unit that includes its surgical wrist fracture repair business, was announced in April. The deal was valued at $280 million in cash, Biomet said at the time.
(Reporting By Diane Bartz; Editing by Gary Hill and Lisa Von Ahn)
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