FTC clears Stryker, K2M tie-up early

K2M (NSDQ:KTWO) said today that the U.S. FTC granted early termination to the Hart-Scott-Rodino Antitrust Improvement Act of 1976 waiting period for its pending $1.4 merger with Stryker (NYSE:SYK).

The termination of the HSR Act clears yet another hurdle to the union between the two companies, which will position K2M as a wholly owned subsidiary of Kalamazoo, Mich.-based Stryker.

In the deal, Stryker will pay $27.50 per share for each outstanding share of K2M, for a 27% premium over K2M’s average closing price during the 90 days of trading ended August 29.

K2M said that it expects the merger to complete tomorrow, November 9, according to an SEC filing.

Yesterday, K2M said that it won shareholder approval for the merger during a special meeting of stockholders.

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