Eddy Elfenbein submits: Great news this morning. Institutional Shareholder Services, the highly influential shareholder-advisory service, recommended voting against the Biomet Inc. (BMET) buyout offer.
It's about time someone spoke out against this deal. I wrote an open letter against the offer in December. Considering what a strong company Biomet is, the private equity offer of $44 a share is way to low.
BMET 1-yr chart: