An application to the European Commission for approval of an $8.25 billion merger between hearing aid manufacturers Widex and Sivantos has been withdrawn, according to a Reuters report.
A spokesman for EQT, Sivantos’ owner, is quoted in the article as saying that the companies are still “fully committed to closing the transaction once all regulatory clearances have been obtained,” and expect to close the deal in the first part of 2019.
The Sivantos-Widex merger would place the combined company within close proximity to Sonova and William Demant Holding (WDH), with a global market share of about 24-25%. Sonova, the Switzerland-based parent group of Phonak, Unitron, and Hansaton, is estimated to have a market share of around 25%—essentially the same or slightly more than WDH, the Denmark-based group that owns Oticon, Bernafon, and Sonic.
To read the Reuters article in its entirety, click here.
Source: Reuters
