German gases and engineering company The Linde Group is expanding its reach into the U.S. home healthcare market through the $4.6 billion cash acquisition of Lincare Holdings Inc. (NASDAQ: LNCR), specialist in respiratory care and medical equipment.
Linde announced Sunday that it will offer $41.50 per share in the majority cash deal with closing expected in the third quarter of fiscal year 2012, the company said.
Reports indicate Linde and other industrial powers are working to decrease their reliance on Europe in light of the euro’s fluctuating exchange rates against currencies in faster growing markets.
Lincare initially grew as an offshoots of Linde AG, according to a Wall Street Journal report. It grew from Linde’s America’s business in the early 1900s prior to its acquisition by Union Carbide in 1917.
Written by Elizabeth Ecker