02 July 2012 10:09 [Source: ICIS news]
SINGAPORE (ICIS)--Linde Group has entered into a definitive agreement to fully acquire US-based Lincare Holdings for $4.6bn (€3.6bn), the German industrial gas supplier said on Monday.
Linde will make a tender offer for all outstanding shares of common stock of Lincare at $41.50 per share in cash, Linde said in a statement.
The acquisition price represents a premium of 64% over Lincare’s share price of $25.26 on 26 June 2012, it said.
Linde expects to generate annual sales of around €2.8bn in healthcare following the acquisition, it added.
"With 11,000 employees, Lincare generated sales of €1.5bn and EBITDA (earnings before interest, tax, depreciation and amortisation) of €363m in 2011," Linde said.
Linde said Lincare is the global leader in the respiratory homecare industry, serving about 800,000 patients.
($1 = €0.79)
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