Linde this much closer to buying Lincare
MUNICH, Germany – The Linde Group announced today that it has completed its tender offer for Clearwater, Fla.-based Lincare.
As of midnight on Aug. 7, when the tender offer expired, 73,441,467 shares of Lincare common stock were tendered and not withdrawn, representing 83.87% of shares then outstanding. There are commitments to tender 9,393,638 additional shares, representing 10.73% of shares then outstanding. Linde has accepted for payment, at $41.50 per share, the shares tendered and not withdrawn in the tender offer, according to a press release.
“Linde intends to complete the acquisition of Lincare through a short-from merger without a vote or meeting of Lincare’s shareholders,” the release states. “Upon completion of the merger, Lincare will become a wholly owned indirect subsidiary of Linde. Lincare’s common stock will no longer be listed on the Nasdaq Global Select Market.”
Linde, which has 51,000 employees in more than 100 countries, generated revenue of EUR 13.79 billion in fiscal year 2011.