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Zimmer Orthopedics Unit Of BMS To Become Separate Entity By Fourth Quarter

This article was originally published in The Gray Sheet

Executive Summary

Bristol-Myers Squibb's decision to spin off its Zimmer subsidiary as a separately traded public entity, instead of selling the unit outright, likely reflects the recently revived sales growth of the orthopedic operation.

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Zimmer Holdings, Inc.

Bristol-Myers Squibb will effect the planned spin-off of its Warsaw, Indiana-based orthopedics subsidiary through a special stock dividend of all Zimmer shares on Aug. 6 (1"The Gray Sheet" Feb. 26, 2001, p. 11). One Zimmer share will be distributed for every 10 BMS shares held as of July 27. Zimmer shares will commence trading on the New York Stock Exchange Aug. 7 under the ticker symbol "ZMH"

Zimmer Holdings, Inc.

Bristol-Myers Squibb will effect the planned spin-off of its Warsaw, Indiana-based orthopedics subsidiary through a special stock dividend of all Zimmer shares on Aug. 6 (1"The Gray Sheet" Feb. 26, 2001, p. 11). One Zimmer share will be distributed for every 10 BMS shares held as of July 27. Zimmer shares will commence trading on the New York Stock Exchange Aug. 7 under the ticker symbol "ZMH"

BMS Keeping ConvaTec, Cutting Zimmer: Matching Howmedica May Be Hard

Bristol-Myers Squibb's exit from non-pharmaceutical businesses will not include the divestiture of ConvaTec. BMS is retaining the wound management business with the goal of reversing the division's recent sluggish sales results.

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