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P. Schoenfeld Asset Management LLC intends to vote in opposition to the $10.9 billion buyout offer for Warsaw prosthetics company Biomet Inc., according to The New York Times. The New York firm owns 0.5 percent of Biomet shares.
Last week, Institutional Shareholder Services, a Maryland shareholder advisory service, recommended voting against the offer because it was priced too low.
The $44-per-share offer from LVB Acquisition LLC, Goldman Sachs & Co., Kohlberg Kravis Roberts and Texas Pacific Group goes to a vote June 8.
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