Biomet sold for $11 Billion

A Warsaw company is being sold for big bucks.

A private equity group is buying Biomet for nearly $11 billion in cash.

The buyers include Blackstone group, Goldman Sachs Capital Partners, Kohlberg Kravis Roberts, and the Texas Pacific Group; along with one of Biomet's founders, Dane Miller.

The deal is subject to shareholder approval and antitrust clearance.

Biomet says the transaction should be complete by next October.

The company makes hip and knee replacements.

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