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Great news this morning. Institutional Shareholder Services, the highly influential shareholder-advisory service, recommends voting against the Biomet (BMET) buyout offer.

It's about time someone spoke out against this deal. I wrote an open letter against the offer back in December. Considering what a strong company Biomet is, the private equity offer of $44 a share is way too low. The important thing to remember is that shareholders have the right to overrule management, especially in important decisions like this. To be approved, the vote needs 75% support.

Posted by edelfenbein at May 30, 2007 10:00 AM