Biomet, Zimmer deal

Zimmer will acquire fellow musculoskeletal company Biomet for $10.4 billion in cash and $3 billion in stock. Biomet shareholders will own about 16% of the combined company and have two board appointments. Zimmer will own the remaining 84% of the company. Zimmer will fund the deal with cash on hand and proceeds from a $3 billion senior unsecured term loan and senior notes offering. The deal, which has been approved by the boards of both companies, is expected to close in 1Q15. ...