Biomet shareholders to vote June 8 on acquisition by investor group

By Lisa Kerner

Charlotte, N.C., April 24 - Biomet, Inc. said it plans to mail definitive proxy materials to its shareholders this week regarding the June 8 meeting for approval of a proposed acquisition by an investor group. Shareholders of record as of April 20 will be entitled to vote at the meeting, according to a company news release.

The private equity group consortium includes the Blackstone Group, Goldman, Sachs & Co., Kohlberg Kravis Roberts and Texas Pacific Group.

Biomet entered into an agreement with the group on Dec. 18 to be acquired for $44 per share in cash without interest. At that time, the $10.9 billion transaction was slated to close by Oct. 31, 2007.

On Feb. 20, Biomet announced the U.S. Federal Trade Commission granted early termination of the Hart-Scott-Rodino Antitrust Improvement Act waiting period for the proposed acquisition.

Warsaw, Ind.-based Biomet designs and manufactures musculoskeletal medical products.

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