Stock in Biomet Inc. might be delisted from NASDAQ Global Select Market on Jan. 22 because it missed a deadline for filing its financial report with the Securities and Exchange Commission for its second fiscal quarter, the Warsaw prosthetics company announced today.
Biomet said it plans to appeal the decision within NASDAQ, and that the stock is expected to stay listed until the appeals panel makes a decision.
NASDAQ notified Biomet on Jan. 11 of the failure to file, the company said.
The company said Dec. 18 it had agreed to be bought by a group of private equity firms in a deal valued at $10.9 billion. The consortium includes Blackstone Group, Goldman Sachs Capital Partners, Kohlberg Kravis Roberts & Co. and TPG.
Biomet co-founder and CEO Dane Miller resigned in March after several quarters of flagging financial performance. However, he is expected to be an investor in the buyout.