The group of private-equity firms that last week sweetened its offer to buy Biomet Inc. today began a tender offer to buy the
A tender offer avoids a shareholder vote, allowing a buyer to more quickly acquire a company. It also gives the buyer direct ownership of a majority of a company’s shares.
Biomet’s prospective buyers are LVB Acquisition LLC, Goldman Sachs & Co., Kohlberg Kravis Roberts and Texas Pacific Group. The consortium raised its offer last week after a