Zimmer to Purchase Biomet in $13 Billion Deal (VIDEO)

By David Wheaton
By Jeff Neumeyer

April 24, 2014 Updated Apr 24, 2014 at 5:27 PM EDT

WARSAW, Ind (21Alive) -- Joined at the hip.

Two of Warsaw's big orthopedic manufacturers announced Thursday they are teaming up in a multi-billion dollar acquisition.

The Boards of Directors for Biomet Inc and Zimmer Holdings in Warsaw announced this morning they have approved a definitive agreement under which Zimmer will acquire Biomet in a cash and stock transaction for about $13.35 Billion dollars, including assumption of net debt. If everything passes muster with the appropriate regulatory groups the deal should be complete by early 2015.

To see the full report, click on the video.

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