Private Equity Group Ups Bid for Biomet

An improved offer to buy Biomet Inc. may provide enough incentive to seal a deal initially rejected by a major shareholder and a couple of shareholder-advisory firms.

The maker of orthopedic products announced Thursday that a private equity consortium had increased its bid by 4.5 percent from $10.9 billion to $11.4 billion. The new offer is for $46 a share, up from $44 a share.

The consortium includes Biomet founder and former chief executive Dane A. Miller and affiliates of the Blackstone Group, Goldman Sachs Capital Partners, Kohlberg Kravis Roberts & Co. and TPG.

Read Full Article from Houston Chronicle

- Posted: 2007-06-08 10:20:53

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