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Robert Trigaux

Clearwater oxygen supplier Lincare bought by Germany's Linde for $4.6 billion

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Wake up and good morning. After some strong hints last week, home oxygen supplier Lincare -- one of Tampa Bay's bigger public companies -- on Sunday agreed to be acquired by the German giant Linde in a deal worth a whopping $4.6 billion. Lincare had annual revenue of $1.8 billion and 800,000 customers.

lindelogo.jpgThe companies said Sunday night that Linde will make a tender offer for all shares of Lincare at $41.50. That's up from the original $40 per share hinted at in earlier reports stemming from the Financial Times and this FT follow-up Sunday.

Lincare CEO John Byrnes, perhaps the least known CEO in this area running a large public company, said the deal affords Clearwater-based Lincare "benefits it would not be able to realize on its own."

The acquisition will be completed by the end of September, which will end LNCR as a publicly traded stock and again shrink the already modest number of area public companies with at least $1 billion in annual revenue.

Read the AP story here. Read the MarketWatch story here.

-- Robert Trigaux, Business Columniust, Tampa Bay Times

[Last modified: Monday, July 2, 2012 8:31am]

    

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