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Major Ortho Merger on the Table?
Biomet, the Warsaw, IN-based orthopedics manufacturer, has apparently put itself up for sale, and one of the potential buyers is rival Smith & Nephew (London), reports the New York Times. Six months ago, Biomet hired Morgan Stanley to explore ways to "enhance shareholder value." Apparently a sale of the company turned out to be one of the better options.
November 2, 2006
1 Min Read
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The firm has had a trying year, weathering the resignation of its CEO and being one of the subjects of a Department of Justice inquiry into possible antitrust practices by orthopedics makers. No other rivals are rumored buyers, likely because of the antitrust concerns. So if a sale happens, it would likely be to Smith & Nephew or a private equity firm. A sale could fetch $10 billion, which would make it one of the larger deals in industry history.
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