Legal Advisors Abdulaziz Alajlan & Partners has advised Stryker Corporation, one of the world’s leading medical technology companies based in Kalamazoo, Michigan on its acquisition of the entire share capital of Wright Medical Group N.V. a global medical device company focused on extremities and biologics for a total consideration of US$30.75 per share, or a total equity value of approximately $4.0 billion and a total enterprise value of approximately $5.4 billion (including convertible notes).
The transaction has been approved by General Authority for Competition ("GAC"), and remains subject to the satisfaction further conditions. Commenting on the transaction, Karim Nassar, Managing Partner at Legal Advisors Abdulaziz Alajlan & Partners says: “We are delighted to have represented Stryker Corporation and acted as the legal counsel on this merger control filing in Saudi Arabia. This filing show cases the undisputed breadth of our on-the-ground expertise, the strength of our Antitrust and Competition Practice and our ability to provide pragmatic solutions locally to implement the world’s leading transactions.”
Further, David Monnier, Partner and Head of the Antitrust and Competition Practice at Legal Advisors Abdulaziz Alajlan & Partners concludes: "We are thrilled with the outcome of this filing and the clearance issued by the General Authority for Competition. This filing w as the first in the medical devices industry since the introduction of the new Competition Law, which makes it a landmark case in the healthcare space in the Kingdom in particular in the context of the global COVID-19 pandemic.”
Legal Advisors Abdulaziz Alajlan & Partners' team was led by Antitrust and Competition partner David Monnier and supported by Hisham Attar.