NEW YORK, July 1 (Reuters)-German industrial gases producer Linde AG said o n s Sunday that it had agreed to buy Lincare Holdings Inc., a provider of oxygen and respiratory therapy services to patients at home in Florida to $4,60 billion.
The deal is the latest sign of raids that industrial gas suppliers are doing homecare sector, which is growing 6 to 9 percent a year, driven primarily by cost cuts at hospital operators and an aging population.
Linde said in a statement that it had signed a merger agreement with Lincare based on a cash offer of $41,50 per share. Lincare shares finished trading at $ 34.02 on Friday.
Linde added that want to finance the deal with available cash and a loan of $ 4.50 billion acquisition that will be refinanced by issuance of debt and equity. It expects the deal to close in the third quarter of fiscal 2012.
In January, Linde bought the European homecare business rival U.S. Air Products and Chemicals Inc. for $ 750 million. The acquisition made Linde a strong No. 2 in the field of home care after Air Liquide SA of France.
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