Millions Of Zimmer Shares To Be Sold

Zimmer-Biomet has announced that some of its shareholders affiliated with KKR and TPG plan to offer more than 7.4 million shares of common stock for sale in an underwritten secondary offering. According to the Journal Gazette, those stockholders will receive proceeds of the sale.

Zimmer-Biomet says the money will not go to the company, its directors, officers or other shareholders. The Journal Gazette reports that top company executives and some directors have agreed not to sell their shares for at least 30 days following the offering.