Biomet Confirms Investment Bank Deal

Biomet, Inc. (NASDAQ:BMET) confirmed today that it has hired investment bank Morgan Stanley & Co. Incorporated to help Biomet explore "strategic alternatives focused on enhancing shareholder value." In a news release, the Warsaw orthopedic company stated that it has made no decisions and "there is no assurance that this exploration will result in any specific action." Earlier this week, two news sources reported that Biomet had hired Morgan Stanley to advise it on the possible sale of Biomet. Today's news release from Biomet does not confirm or deny that the sale of the company is a possible outcome.