Medical device maker Zimmer Holdings Inc said it would acquire orthopedic products company Biomet Inc in a deal valued at about $13.35 billion. Zimmer will pay $10.35 billion in cash and issue $3 billion in shares to Biomet shareholders.
Zimmer Holdings, Inc. (Zimmer) designs, develops, manufactures and markets orthopaedic reconstructive, spinal and trauma devices, biologics, dental implants and related surgical products. Shares of ZMH fell by 0.25% or $-0.23/share to $91.45. In the past year, the shares have traded as low as $74.55 and as high as $98.95. On average, 1187780 shares of ZMH exchange hands on a given day and today's volume is recorded at 1302689.
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