Merger proceeding JenaValve/Edwards discontinued

The Bundeskartellamt has discontinued its proceedings examining the takeover of JenaValve Technology Inc. (in the following JenaValve) by Edwards Lifesciences Corporation (in the following Edwards), which was notified in September 2024. The proposed transaction was not subject to notification under merger control. The Bundeskartellamt’s examination has shown that the national notification thresholds were not met in this case. The transaction could have been subject to merger control in Germany under the so-called transaction value threshold as the value of the consideration for the takeover exceeded 400 million euros. However, another requirement for a transaction to be notifiable under the value threshold is that the target company already has substantial operations in Germany at the time of the acquisition. The investigations have shown that this was not the case for JenaValve. As a consequence, the Bundeskartellamt discontinued its proceedings.

JenaValve produces a new type of heart valve to treat patients with aortic regurgitation (AR). Edwards is a global leader in medical innovations for structural heart disease.