Hints and tips:
...In an adjacent field, there was consolidation this week in orthopedic implants, with the third-largest competitor in the field, Zimmer, bought the fifth largest, Biomet....
...A lot of mergers and acquisitions go wrong – but few quite so spectacularly as Smith & Nephew’s SFr1.1bn (£531m) purchase of Switzerland’s Plus Orthopedics....
...Last December S&N tried to acquire US rival Biomet, but was outbid by a private equity consortium which included included Blackstone, Goldman Sachs, KKR and Texas Pacific, along with one of Biomet’s founders...
...The deal comes three months after S&N failed to complete a transformational deal with its US rival Biomet which left it vulnerable to a takeover by larger rivals – Johnson & Johnson, Stryker and Zimmer....
...Last year, S&N was frustrated in its bid to buy Biomet, a US rival, by a group of private equity companies. Since then, it has been seen as a possible future bid target....
...Smith & Nephew, the UK medical device maker which has looked vulnerable to a bid since failing to buy Biomet last year, has agreed to buy Plus Orthopedics Holding, a privately-owned Swiss group, for SFr1.09bn...
...Private equity firms are in pole position to buy orthopedics maker Biomet, reports the Wall Street Journal....
...The private equity consortium that outbid Smith & Nephew in the $10.9bn buyout of Biomet could return to snap up the UK orthopedics maker, reports the Business....
...Merrill Lynch said in a research note before the announcement that being outbid by the private equity firms for Biomet would be positive news for the UK orthopedics company, but added: “In our view, this...
...Based in Warsaw, Indiana, Biomet is best known for its orthopedic products, such as joint replacements and spinal products....
...We’ve got you a splendid new acquisition – Plus Orthopedics. It’s Swiss – beautifully engineered, as you’d expect from the clock people....
...Express Scripts, the pharmacy benefits manager, said it had tabled an offer to buy Caremark for $26bn, after Realogy accepted a $9bn private equity bid and orthopedics company Biomet went to a private equity...
...Elsewhere, orthopedics group Smith & Nephew improved 0.7 per cent to 510¾p excited by rumours that JP Morgan’s private equity arm has made a $10.5bn bid for US rival Biomet....
...Smith & Nephew faded 2.6 per cent to 414½p, unsettled by news that two of its US peers, Biomet and Zimmer, had been subpoenaed over potential violations of antitrust law relating to sales of orthopedic implant...
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