Biomet buyout endorsed by shareholders
This article was originally published in The Gray Sheet
Executive Summary
Private equity buyout of the orthopedic implant manufacturer, valued at about $11.4 billion, is approved by shareholders - with 91% voting in favor of the deal, the firm announces Sept. 5. Investment partnerships managed by The Blackstone Group, Goldman Sachs, Kohlberg Kravis Roberts and TPG are paying $46 per share for the company under the terms of a tender offer amended in June (1"The Gray Sheet" June 11, 2007, p. 9). Biomet expects the deal to close before the start of October...