DJO, ReAble deal clears waiting period hurdle

By Lisa Kerner

Charlotte, N.C., Aug. 16 - The U.S. Federal Trade Commission granted early termination of the Hart-Scott-Rodino waiting period in the proposed merger of DJO Inc. and an affiliate of ReAble Therapeutics, Inc.

Under a July 16 merger agreement, the ReAble affiliate will acquire all outstanding shares of DJO's common stock for $50.25 cash per share, a company news release stated. The transaction is valued at $1.6 billion including debt and is expected to close in the fourth quarter.

A Blackstone Group affiliate, a controlling shareholder of ReAble, committed to provide the equity financing needed to complete the transaction, it was previously reported.

Vista, Calif.-based DJO specializes in rehabilitation and regeneration products for the non-operative orthopedic, spine and vascular markets.

ReAble, located in St. Louis, manufactures and distributes orthopedic devices for musculoskeletal conditions resulting from degenerative diseases, deformities, traumatic events and sports-related injuries.

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