Price for Biomet Growing
A consortium of private buyers upped the ante in their offer to purchase Biomet, Inc., a company that manufactures orthopaedic devices.
The private group seeking to make the purchase includes TPG, Goldman Sachs Capital Partners, the Blackstone Group, and Kohlberg Kravis Roberts and Company.
An initial deal was planned during December 2006, but later rejected by company shareholders.
The newest offer, which the equity group claims is the limit, is $11.4 billion. The offer is more than 30 percent higher over the share closing price in early April. Biomet is urging stockholders to approve the deal.
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June 11, 2007 Related topics: Materials Management