Gold was all the rage again last week. But why is it rising, and does anyone really know what it’s worth?[More...]

Gold was all the rage again last week. But why is it rising, and does anyone really know what it’s worth? According to the way I calculate momentum, gold has just barely entered the gravity-free zone - where it has the potential to start advancing a lot, with much more fluidity. And that translates into ...

Stryker Corp. (SYK) is on a takeover spree having made three acquisitions recently. The company acquired OtisMed Corp., Mutoh Co. Ltd. and certain of its affiliates, and Synergetics USA, Inc. (SURG). Financial terms of these transactions include $67 million in upfront payment as well as potential future milestone and royalty payments of up to $36 million. These [...]

(SYK) Stryker Corporation Strikes Acquisition Deals

Zimmer Holdings, Inc. (ZMH) recently decided to raise $1 billion by selling its senior unsecured notes in an underwritten public offering in two separate transactions. The transactions involve selling $500.0 million of 4.625% notes due 2019 and $500.0 million of 5.75% notes due 2039. The public offering is expected to close on Nov 17, 2009. Zimmer [...]

(ZMH) Zimmer Holdings to Sell Notes in Public Offering

Zimmer Holdings, Inc. (ZMH) recently decided to raise $1 billion by selling its senior unsecured notes in an underwritten public offering in two separate transactions. The transactions involve selling $500.0 million of 4.625% notes due 2019 and $500.0 million of 5.75% notes due 2039. The public offering is expected to close on Nov 17, 2009.
 
Zimmer has already filed an automatic shelf registration statement on Form S-3 with the Securities and Exchange Commission for the public offer. Citigroup Global Markets Inc., a division of Citigroup, Inc. (C); Banc of America Securities LLC, a division of Bank of America Corp. (BAC); and J.P. Morgan Securities Inc., a division of JPMorgan Chase & Co. (JPM) are the active joint book-running managers of the offering. The offer will be made to the public through the prospectus.
 
The 2019 notes yield 118 basis points above the Treasury benchmark and the 2039 notes yield 135 basis points above the Treasury benchmark. Zimmer will use the net proceeds of the offering to repay its outstanding credit balance under its credit facility and for general corporate purposes like the company’s stock repurchase program. Zimmer already had cash and cash equivalents of roughly $440 million at the end of the third quarter of 2009.
 
Zimmer is a global leader in the design, development, manufacture, and marketing of reconstructive implants, and trauma and related orthopedic surgical products. The company competes in the orthopedic market with players like Stryker Corp. (SYK), Wright Medical (WMGI), and Smith & Nephew (SNN).
Read the full analyst report on "ZMH"
Read the full analyst report on "C"
Read the full analyst report on "BAC"
Read the full analyst report on "JPM"
Read the full analyst report on "SYK"
Read the full analyst report on "WMGI"
Read the full analyst report on "SNN"
Zacks Investment Research