The Firm is representing the independent directors and a special committee of the board of directors of Biomet, Inc. in connection with Biomet's acquisition by a private equity consortium composed of affiliates of The Blackstone Group, Kohlberg Kravis Roberts & Co., Goldman Sachs Capital Partners and Texas Pacific Group. The consortium has agreed to acquire the company for $44 per share or $10.9 billion, representing a 27% premium over Biomet's closing share price on April 3, 2006, the trading day prior to public speculation, which was subsequently confirmed by Biomet on April 6, 2006, that it had retained Morgan Stanley to assist it in exploring strategic alternatives. The transaction is expected to be completed on or prior to October 31, 2007.
Biomet, Inc. (NASDAQ:BMET) designs and manufactures musculoskeletal medical products used in surgical and non-surgical therapy, including joint replacement devices, fixation products and spinal products. The company currently distributes products in over 100 countries and is based in Warsaw, Indiana.
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