Please Read the Entire Article at OrthoStreams
#1 – The big picture numbers of the deal
Both boards have approved the definitive merger agreement. Closing is expected in 1Q 2015. Total price is $13.35B. Zimmer will pay $10.35B in cash and $3B in Z stock (represents about 17% of outstanding shares). At closing, Zimmer’s shareholders will own 84% of the merged company and Biomet’s shareholders will own 16%. Zimmer will take on all of Biomet’s debt. Zimmer’s market cap is about $17B ($100 per share X 169M shares). Biomet is obviously worth $13B, so this is as much a merger as an acquisition.
