On April 24, 2014, Zimmer Holdings, Inc. and Biomet, Inc. announced that their respective Boards of Directors have approved a definitive agreement under which Zimmer will acquire Biomet in a cash and stock transaction valued at approximately $13.35 billion, including the assumption of net debt. Cravath represented Credit Suisse in connection with the arrangement of committed financing for the acquisition. The transaction, which is subject to customary closing conditions and regulatory approvals, is expected to close in the first quarter of 2015.
The Cravath team included partners Michael S. Goldman and William J. Whelan III and associates R. Kirkie Maswoswe and Cameron S. Stanton. Thurston J. Hamlette also worked on this matter.