Linde Completes Tender Offer for Lincare
CLEARWATER, Fla., Aug. 8, 2012 (GLOBE NEWSWIRE) -- The Linde Group announced
today that its previously announced tender offer to purchase all the issued
and outstanding shares of common stock of Lincare Holdings Inc. (Nasdaq:LNCR)
at USD 41.50 per share in cash expired, as scheduled, and was not extended.
The depositary for the tender offer has advised Linde that, as of 12:00
midnight, New York City time, on Tuesday, 7 August 2012 when the tender offer
expired, a total of 73,441,467 shares of Lincare common stock were validly
tendered and not withdrawn, representing approximately 83.87% of the shares of
Lincare common stock then outstanding. The depositary for the tender offer has
also advised Linde that it has received commitments to tender 9,393,638
additional shares of Lincare common stock under guaranteed delivery
procedures, representing approximately 10.73% of the shares of Lincare common
stock then outstanding. Linde has accepted for payment the shares validly
tendered and not withdrawn in the tender offer.
Linde intends to complete the acquisition of Lincare through a short-form
merger without a vote or meeting of Lincare's shareholders. Each of the
remaining shares of Lincare common stock will be converted into the right to
receive the same $41.50 per share in cash that was paid in the tender offer.
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.
The Linde Group is a world-leading gases and engineering company with around
51,000 employees in more than 100 countries worldwide. In the 2011 financial
year, it generated revenue of EUR 13.787 bn. The strategy of The Linde Group
is geared towards long-term profitable growth and focuses on the expansion of
its international business with forward-looking products and services. Linde
acts responsibly towards its shareholders, business partners, employees,
society and the environment – in every one of its business areas, regions and
locations across the globe. The Group is committed to technologies and
products that unite the goals of customer value and sustainable development.
For more information, see The Linde Group online at http://www.linde.com and
Lincare at http://www.lincare.com
This release contains forward-looking statements about Linde and Lincare and
their respective subsidiaries and businesses. These include, without
limitation, those concerning the strategy of an integrated group, future
growth potential of markets and products, profitability in specific areas, the
future product portfolio, development of and competition in economies and
markets of the group.
These forward looking statements involve known and unknown risks,
uncertainties and other factors, many of which are outside of Linde's and
Lincare's control, are difficult to predict and may cause actual results to
differ significantly from any future results expressed or implied in the
forward-looking statements in this release.
While Linde and Lincare respectively believe that the assumptions made and the
expectations reflected in this release are reasonable, no assurance can be
given that such assumptions or expectations will prove to have been correct
and no guarantee of whatsoever nature is assumed in this respect. The
uncertainties include, inter alia, the risk of a change in general economic
conditions and government and regulatory actions. These known, unknown and
uncertain factors are not exhaustive, and other factors, whether known,
unknown or unpredictable, could cause the group's actual results or ratings to
differ materially from those assumed hereinafter. Linde and Lincare undertake
no obligation to update or revise the forward-looking statements in this
release whether as a result of new information, future events or otherwise.
CONTACT: For further Information:
Dr. Dominik Heger
Paul G. Gabos
Phone: +1 (727) 530-7700
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