Held by a private equity consortium since 2007, Biomet Inc. has hired underwriters for an initial public offering later this year, Reuters reported Wednesday. The offering could come in the first half of this year and raise more than $1 billion, people familiar with the matter told the wire service. The sources asked not to be identified because the issue is not public. Bank of America Merrill Lynch, Goldman Sachs Group and JPMorgan Chase & Co were picked to lead the IPO, according to Reuters. The underwriters were chosen by the four equity firms that purchased Biomet for $11.4 billion, Blackstone Group LP, the private equity arm of Goldman Sachs Group Inc., KKR & Co LP and TPG Capital LP. Biomet, its owners and the banks did not confirm the report to Reuters. Biomet is one of a few large companies taken over by private equity firms during the buyout boom that has not yet gone public, the report notes.
