Lincare deal moves forward

CLEARWATER — The Federal Trade Commission has terminated a mandated waiting period on acquisitions and mergers for the Linde Group's acquisition of Lincare Holdings Inc., the companies announced.

On July 11, Munich-based Linde filed an offer with the U.S. Securities and Exchange Commission to purchase all outstanding shares of Clearwater-based Lincare's common stock for $41.50 per share in cash. With about 86 million shares of stock outstanding, the deal totals a purchase price of more than $3.5 billion.

Early termination of the waiting period means the deal may move forward assuming it satisfies other customary conditions, the company explains in a release. The Hart-Scott-Rodino Antitrust Improvements Act of 1976 prescribes a waiting period for mergers and acquisitions of 30 days, or 15 days for all-cash tender offers.

The Linde Group is a gas and engineering company, and Lincare is one of the leading suppliers of medical gases to patients and hospitals. Lincare is also the 13th-largest company from Tampa to Naples, and posted $1.85 billion in 2011 revenues.

By acquiring Lincare, Linde will double sales in its North American Gases Division.