Zimmer Holdings to Buy Biomet for $13.35 Billion (NYTimes)
Zimmer Holdings agreed on Thursday to acquire Biomet Inc. in a cash-and-stock deal valued at $13.35 billion, including debt. It will bring together two providers of orthopedic, surgical and dental products.
The deal, which has been approved by the boards of both companies, comes amid a wave of health care and pharmaceutical deals. This week,Novartis and GlaxoSmithKlineannounced $20 billion in deals, and Valeant made a $45 billion hostile takeover bid for Allergan.
It is also the latest successful exit for private equity. In 2007, Biome...
