Biomet Announces Offer to Acquire DePuy Trauma Business (press release)
Biomet bids on DePuy unit (Fort Wayne Gazette)
Biomet, Inc. a global leader in the manufacture of musculoskeletal medical products, announced today that it has made a binding offer to acquire the worldwide trauma business of DePuy Orthopaedics, Inc. Under the terms of the offer, which is subject to exclusivity protection, Biomet will pay approximately $280 million in cash. The binding offer was made in order to permit DePuy Orthopaedics to comply with its consultation obligations with various European works councils prior to entering into a negotiated, mutually binding purchase agreement.
“The DePuy Trauma team has done a great job of building a successful business. We look forward to welcoming them as Biomet team members and working alongside them to fulfill our commitment to providing customers with outstanding products and service, as well as continued innovation.”
“This transaction will provide Biomet with a much stronger presence in the global trauma market and greatly expands our Sports, Extremities and Trauma business, which is a meaningful growth driver for Biomet,” said Jeffrey R. Binder, President an...
