Monday, December 11, 2006

Smith & Nephew Plans $11B Bid for Biomet (BMET)

According to reports from Reuters, Smith & Nephew Plc (NYSE: SNN) plans to offer $11 billion for Biomet Inc. (NASDAQ: BMET), citing unnamed sources familiar with the matter.

Bids are due Tuesday and others will also likely submits offers, the sources said.

Earlier in the month, Smith & Nephew confirmed that it has held very preliminary talks with Biomet.

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