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News
1 November 2003
Zimmer Inc has won its takeover battle for the Swiss-based Centerpulse after the directors of Europe's biggest orthopaedics company recommended its US$3.2 billion cash and shares offer ahead of Smith & Nephew's earlier bid, valued at GBP1.5 billion (US$2.4 billion). Smith & Nephew, a UK medical textiles manufacturer, conceded defeat in announcing it has formally dropped its bid.