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Bid for Biomet Increases

The private equity consortium in line to buy orthopedics player Biomet Inc. has increased its bid by 4.5% to $11.4 billion, reports the Associated Press. This comes after an independent proxy adviser recommended that shareholders reject the consortium's $10.9 billion offer, on the grounds that the firm's value has increased since the offer was accepted in December. The firm is recommending that shareholders approve the new offer.

June 7, 2007

1 Min Read
Bid for Biomet Increases

The private equity consortium in line to buy orthopedics player Biomet Inc. has increased its bid by 4.5% to $11.4 billion, reports the Associated Press. This comes after an independent proxy adviser recommended that shareholders reject the consortium's $10.9 billion offer, on the grounds that the firm's value has increased since the offer was accepted in December. The firm is recommending that shareholders approve the new offer.

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