Biomet: I Would Cheer If The Deal Fell Apart

Includes: BMET, BX, GS, KKR
by: Eddy Elfenbein

Eddy Elfenbein submits: A reader pointed out this item at FT's Alphaville about how the market could get spooked if a major private equity deal fell apart:

In the light of which, the first apocalyptic horseman to worry about is Biomet, the buyout of which is backed by Blackstone (NYSE:BX), Goldman Sachs (NYSE:GS), KKR (KFN) and TPG, looking to raise $7B in loans and bonds for the deal, including a $2.6B cov-lite loan.

One Deal Journal reader commented: "Biomet....Tender offer deadline 7/11/07. Anyone quoting odds?"

Personally, I would cheer if the deal fell apart.

BMET 1-yr chart: