Biomet, Inc. (NDAQ:BMET) agreed to be acquired today for $44 per share by a private equity group consisting of members of the Blackstone Group, Goldman Sachs Capital Partners, Kohlberg Kravis Roberts & Co. and TPG. The $10.9 billion deal is expected to close on or prior to October 31, 2007.

We first mentioned this company back on November 2nd when there were rumors that Smith & Nephew (NYSE:SNN) was interested in the company. The stock was trading around $38 per share before rising around 15% to its current levels after receiving the current private equity offer at $44 per share. Now rumors have surfaced that Smith & Nephew may become a buyout target, with potential bids from companies like Zimmer (ZMH), Johnson & Johnson (JNJ), and Stryker (SYK). This makes SNN a stock to watch if the Biomet transaction does go through.

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