• Linde offers USD 41.50 in cash per Lincare share
  • Total consideration: USD 4.6 bn
  • Lincare's Board of Directors recommends that shareholders accept the offer
  • Lincare sales 2011: USD 1,848 bn; EBITDA: USD 454 m
  • Formation of global leading healthcare provider within the gases industry
  • The global megatrend healthcare provides stable business growth
  • Business in North America further strengthened

CLEARWATER, Fla., July 2, 2012 (GLOBE NEWSWIRE) -- Lincare Holdings Inc. and The Linde Group announced today that Linde has entered into a definitive agreement for the acquisition of Lincare, a U.S.-based homecare health company. Under the terms of the agreement, Linde will make a tender offer for all outstanding shares of common stock of Lincare at USD 41.50 per share in cash. Following the purchase of shares in the tender offer, Linde intends to complete the acquisition of Lincare through a merger, following which Lincare will become a wholly owned subsidiary of Linde.

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. The total consideration of the transaction will be USD 4.6 bn.

"We are excited that this strategic acquisition enables us to take the next big step in this stable, sustainable and profitable business field," Prof. Dr.-Ing. Wolfgang Reitzle, CEO of Linde AG, explained. "Against the background of demographic changes, the healthcare industry is a megatrend in which we will be able to participate more strongly thanks to the new setup. Together with Lincare, we will become the global leading healthcare provider within the gases industry and further internationalize our business. Lincare, as one of the leading home healthcare providers in the U.S., provides us an ideal platform to roll out our innovative products