April 24, 2014 |
Orthopedic products maker Zimmer Holdings on Thursday announced it will acquire Biomet Inc. in a deal valued at $13.35 billion, including assumption of debt, the companies said. The proposed acquisition follows a flurry of billion-dollar deals by pharmaceutical and medical device companies. PHOTOS: Best and worst countries to grow old in This week Swiss multinational company Novartis AG, maker of Excedrin, announced a restructuring of its businesses with GlaxoSmithKline that included the sale of GSK's oncology products to Novartis for $14.5 billion. Activist investor Bill Ackman and Canadian firm Valeant Pharmaceuticals International Inc. on Tuesday unveiled details of their $45-billion bid for Irvine pharmaceutical company Allergan Inc. , which makes the popular Botox wrinkle treatment.
July 10, 2001
* Silicon Graphics Inc., whose computer workstations are used to create movie effects, announced the resignation of Chief Financial Officer Hal Covert and said it expects a loss of $70 million to $80 million for the fiscal fourth quarter. The company, which did not provide a per-share profit estimate, said bookings for the coming fiscal year are disappointing. Covert, who joined the company in July 2000, will be replaced as CFO by Controller Jeffrey Zellmer. * WestPoint Stevens Inc.
May 26, 2005 |
Medical device maker Medtronic Inc. said Wednesday that a California judge had barred the company from selling a redesigned product that is the subject of a patent lawsuit filed by Biomet Inc. Medtronic said it would appeal the injunction, which was issued Tuesday and takes effect Aug. 22.
June 4, 2007 |
A Newport Beach-based commercial insurance brokerage is being sold to Blackstone Group for $1.1 billion in cash and stock, the companies announced Sunday. The deal is the latest in the voracious private equity firm's series of big acquisitions. Alliant Insurance Services, which is now owned by private equity firm Lindsay Goldberg & Bessemer of New York, will maintain its current management, employees and headquarters, spokesman Mike Simmons said.
June 27, 2006 |
Shares of Zimmer Holdings Inc., Stryker Corp. and Biomet Inc. plunged Monday as the companies, makers of artificial hips and knees, disclosed a federal investigation of the $7-billion-a-year orthopedic industry. The Justice Department's antitrust division demanded records back to 2001 on how Biomet, Stryker and Zimmer make and sell orthopedic devices, the companies said in separate statements.
June 8, 2007 |
An improved offer to buy Biomet Inc. may provide enough incentive to seal a deal initially rejected by a major shareholder and a couple of shareholder advisory firms. The maker of orthopedic products announced Thursday that a private equity consortium had increased its bid by 4.5% to $11.4 billion. The new offer is for $46 a share, up from $44 a share. The consortium includes Biomet founder and former Chief Executive Dane A.