Linde AG Acquires Lincare (LNCR) for $41.50/Share

July 2, 2012 6:50 AM EDT
Linde AG agrees to acquire Lincare Holdings Inc. (Nasdaq: LNCR) for $41.50 per share, or $4.6 billion.

The Lincare Board of Directors has unanimously approved the transaction. The price of USD 41.50 represents a premium of 64% over Lincare's share price of USD $25.26 on June 26, 2012 (the last day prior to press reports speculating as to Lincare's auction process), and also represents a premium of 49% over the three month volume weighted average price per Lincare share.

Completion of the offer is subject to customary conditions, including the expiration of the waiting period provided by U.S. antitrust laws and the tender of at least a majority of Lincare's outstanding shares of common stock. Closing is expected for the third quarter of 2012.

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