Biomet Settles Suits

Biomet Inc. (Nasdaq: BMET) has entered into a memorandum of understanding regarding the settlement of shareholder class-action lawsuits related to the company's proposed  $44 per share buyout by The Blackstone Group, Goldman Sachs Capital Partners, Kohlberg Kravis Roberts & Co. and Texas Pacific Group. Biomet said that it will make certain additional financial information available to shareholders, who are scheduled to vote on the deal June 8. If approved, the total transaction would be worth around $10.9 billion.