Smith & Nephew Receives Regulatory Approval For ArthroCare Takeover

(RTTNews) - UK-based Medical technology business Smith & Nephew plc (SNN, SN.L) announced that the company and medical device company ArthroCare Corp. (ARTC, ARTC.PK) have received early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, in connection with Smith & Nephew's pending acquisition of ArthroCare.

The early termination of the waiting period under the Hart-Scott-Rodino Act satisfies one of the conditions for consummation of the transaction.

The transaction remains subject to certain other closing conditions, including approval by ArthroCare stockholders and UK and German regulatory approvals.

In Earlier February, Smith & Nephew had said it executed a definitive agreement to acquire ArthroCare Corp. for $48.25 per share in cash, for a total consideration of about $1.7 billion and an enterprise value of $1.5 billion.