Posted on Jul 13, 2017
Michael Flaherty – July 13, 2017
(Reuters) – Jana Partners was granted regulatory clearance on Thursday for its purchase of shares in medical device maker Zimmer Biomet Holdings Inc, in a sign that the hedge fund is set to build its stake and press for changes at the company.
Jana on Thursday was granted early termination under the antitrust Hart-Scott-Rodino Act, a public filing required by the U.S. Federal Trade Commission’s when an investor buys shares in a company above a certain threshold.
The actual size of Jana’s stake in the company is not yet clear, nor are the hedge fund’s plans. Jana and Zimmer Biomet declined to comment.