Shareholder advisory firm urges ‘No’ vote on Biomet merger

Institutional Shareholder Services, a shareholder advisory service based in Rockville, Md., has urged Biomet Inc. shareholders to reject a $10.9 billion private-equity deal for the company because it is priced too low, The Wall Street Journal reported. A vote is scheduled June 8.

Biomet is being acquired by LVB Acquisition LLC, Goldman Sachs & Co., Kohlberg Kravis Roberts and Texas Pacific Group.

At least 75 percent of all holders of Biomet stock must vote in favor of the buyout, so a small group of shareholders could block the bid.

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