WARSAW, Ind., July 25, 2012 /PRNewswire/ -- Biomet, Inc. ("Biomet") announced an amendment to its previously announced tender offer ("Tender Offer") to purchase for cash its outstanding 10⅜%/11⅛% Senior Toggle Notes due 2017 (CUSIP Nos. 090613AD2, 550785AC3 and U55004AB8) (the "Existing Toggle Notes") to change the Tender Offer from an offer to purchase up to $500,000,000 in aggregate principal amount of outstanding Existing Toggle Notes to an offer to purchase any and all of the $771,000,000 aggregate principal amount of outstanding Existing Toggle Notes.
The obligation of Biomet to accept for purchase, and to pay for, Existing Toggle Notes validly tendered pursuant to the Tender Offer is subject to certain conditions, including the consummation of the concurrently announced financing transaction. Biomet may waive any of the conditions if they are not satisfied.
The terms and conditions of the Tender Offer are described in Biomet's Offer to Purchase dated today (the "Offer to Purchase") and related Letter of Transmittal which set forth the complete terms of the Tender Offer.
The Tender Offer remains scheduled to expire at 12:00 midnight, New York City time, on August 21, 2012, unless extended or earlier terminated (such time and date, as the same may be extended, the "Expiration Time"). Holders of Existing Toggle Notes ("Holders") who validly tender their Existing Toggle Notes on or before 5:00 p.m., New York City time, on August 7, 2012, unless extended or earlier terminated (such time and date, as the same may be extended, the "Early Tender Time") will be eligible to receive a total consideration of $1,069.97 per $1,000 principal amount of the Existing Toggle Notes tendered. Holders who validly tender their Existing Toggle Notes after the Early Tender Time but on or before the Expiration Time will be eligible to receive a tender offer consideration of $1,039.97 per $1,000 principal amount of the Existing
|SOURCE Biomet, Inc.|
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