Private Equity Bigwigs Buy Biomet

Dec 20 2006 | 11:42am ET

A consortium of private equity heavyweights has agreed to pay $10.9 billion for medical device manufacturer Biomet.

The group includes the Blackstone Group, Goldman Sachs Capital Partners, Kohlberg Kravis Roberts and Texas Pacific Group.

Warsaw, Ind.-based Biomet designs and manufactures musculoskeletal medical products. The deal, which offers $44 per share and was unanimously approved by Biomet’s board, awaits shareholder approval.

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