UPDATE 1-Biomet accepts sweetened $11.4 bln takeover offer

(Reuters) - The private equity consortium, which includes affiliates
of Blackstone Group, Goldman Sachs Capital Partners, Kohlberg
Kravis Roberts & Co. and TPG, will begin a tender offer by June
14 to acquire all of Biomet's outstanding shares.




Completion of the tender offer is subject to the condition
that at least 75 percent of the Biomet common shares have been
tendered.


Read more at Reuters.com Bonds News

Biomet accepts sweetened takeover bid

(Reuters) - Biomet canceled a June 8 special meeting of shareholders scheduled to vote on the original takeover offer. Last month, Institutional Shareholder Services recommended that Biomet shareholders vote against the original $10.9 billion bid, saying the price was too low.




Read more at Reuters.com Mergers News

Wal-Mart May same-store sales up 1.1 pct

(Reuters) - Wal-Mart had forecast a May same-store sales gain of 1 percent to 2 percent.




The world's biggest retailer said net sales in the four weeks ended June 1 rose 7.7 percent to $28.26 billion.


Read more at Reuters.com Market News

European Government Bonds Slide on ECB Rate Rise, Global Growth Outlook

(Bloomberg) -- European government bonds fell by the
most in three weeks on speculation global economic growth may
quicken, putting pressure on policy makers, including the
European Central Bank, to raise interest rates.

Ten-year bund yields rose to a 4 1/2 year high after New
Zealand unexpectedly lifted rates and Fed Bank of Richmond
President Jeffrey Lacker said U.S. growth will rebound. ECB
President Jean-Claude Trichet said the region's rates are low
enough to support expansion, allowing for further borrowing-cost
increases after lifting them to a six-year high yesterday.


Read more at Bloomberg Bonds News

Pacific Sunwear May same-store sales rise 6.4 pct

(Reuters) - The company said total sales for the four weeks ended June
2 ended rose 10.9 percent to $97.7 million.





Read more at Reuters.com Market News

China's Bonds Fall on Speculation Central Bank Will Raise Interest Rates

(Bloomberg) -- China's government bonds fell, with
the two-year yields rising the most in three months, on
speculation the central bank will increase interest rates to slow
accelerating inflation. The yuan dropped.

The People's Bank of China is ``closely'' monitoring gains
in pork and egg prices and will study economic data for May
before deciding on any changes in borrowing costs, central bank
Governor Zhou Xiaochuan told reporters during a financial
conference in Beijing on June 5.


Read more at Bloomberg Bonds News

Crude Oil Gains Amid Concern U.S. Refineries Aren't Making Enough Gasoline

(Bloomberg) -- Crude oil rose on concern U.S.
refineries aren't making enough gasoline to meet demand during the
summer. The price of gasoline rose after seven days of declines.

U.S. refineries ran at a lower-than-expected 89.6 percent of
capacity last week, down from 91.1 percent the week before, the
U.S. Energy Department said. American demand for motor fuel peaks
during the summer driving season from late May to September.


Read more at Bloomberg Energy News