Biomet/Blackstone Merger A Done Deal

It's official. Over 91% of Biomet (BMET) shareholders approved the merger agreement with LVB Acquisition, Inc., which is the consortium of Blackstone, Goldman, KKR and TPG. The deal is for $46 a share in cash.

When the initial deal came out at $44 a share, the Internet went crazy. Actually, it was just me. But five months after my first post complaining that the offer was too low, Institutional Shareholder Services agreed. So the consortium raised the bid by $2 a share, and now, it's a done deal.