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Lincare Board Recommends Linde’s Takeover Bid to Shareholders (LNCR)

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The Board of Director of Lincare Holdings Inc. (NASDAQ:LNCR), a provider of oxygen, respiratory and other chronic therapy services to patients in the home, has recommended its shareholders accept the takeover offer from Germany-based Linde AG.

Linde has offered $4.6 billion to acquire Lincare Holdings. The acquisition would allow the German industrial gas supplier to expand in the healthcare sector. In fact, Lincare has been seeing significant interest from a number of industrial gas suppliers.

Linde CEO Wolfgang Reitzle said that the strategic acquisition would allow his company to take the next big step in a stable, sustainable and profitable business field. Linde sees healthcare as one of its growth pillars.

Linde has offered $41.50 per share to acquire Clearwater, Florida-based Lincare, which represents a premium of 22% over LNCR’s closing price on Friday. Linde plans to finance the transaction through cash and an acquisition loan, which will be refinanced through debt and equity issuances.

Wall Street analysts have given their nod to the transaction, saying the acquisition makes sense.

Lincare stock has risen sharply in pre-market trading. At last check, the stock was trading 21.11% higher.

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