A private equity consortium has become the latest bidder to bow to pressure from investors and sweeten its offer for artificial joint maker Biomet by nearly 5%.

Biomet recommended shareholders support the $11.4bn (€8.5bn) bid from private equity groups Blackstone Group, Goldman Sachs Capital Partners, Kohlberg Kravis Roberts and TPG.

Paula Schaap in New York

Goldman Sachs

Kohlberg Kravis Roberts

Blackstone Group

Citigroup

Morgan Stanley

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Northern Trust taps UN pension fund for head of international role

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Pedro Guazo, who joins in August, will also oversee the $1.3tn asset manager’s responsible investment platform globally

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