Zimmer Holdings to acquire rival Biomet for 13bn dollars

24th Apr 2014 14:22

Zimmer Holdings, the US maker of artificial joints, has agreed to purchase rival orthopedic-device maker Biomet in a cash-and-stock deal valued at 13.4bn dollars. Biomet's parent, Biomet Group, had been planning an initial public offering.The news has propelled stock in UK rival Smith&Nephew 4% higher to 909.5p.-- More to follow -- AB