(July 2, 2012, Weil News)
Weil advised Lincare Holdings Inc., a Florida-based, publicly-traded provider of oxygen and respiratory therapy services to patients in the home, in its $4.6 billion sale to German conglomerate Linde AG, one of the world's leading providers of industrial air and gas products.
Under the terms of the merger agreement, which was announced today, Linde will make a tender offer for all of Lincare's outstanding shares of common stock at $41.50 per share, which represents a 64% premium over Lincare's closing share price on June 26, 2012. The consummation of Linde’s tender offer will be followed by a merger. Following the acquisition, Linde will be a leader in the market for respiratory therapy services taken at home. The deal is expected to close in the third quarter of 2012.
The Weil team representing Lincare was led by New York M&A partner Michael Aiello and included Antitrust / Competition partner John Scribner (Washington DC), Technology & IP Transactions partner Michael Epstein (New York), Tax partner Kenneth Heitner (New York), Employee Benefits and Executive Compensation partner Michael Kam (New York); Environmental Transactions partner Annemargaret Connolly (Washington DC); counsel Stuart Morrissy (New York) and John O’Loughlin (Washington DC); M&A associates Sachin Kohli, Allison Donovan, and Meah Clay (all New York); Antitrust associate Jonathan Sickler (Washington DC); Employee Benefits and Executive Compensation associate Verity Rees (New York); Capital Markets associate Janeane Menaldino (New York); Environmental associate Thomas Goslin (Washington DC); Intellectual Property associate Melissa McDonough (Silicon Valley); Real Estate associate Lynn Bodkin (New York); and Tax associate Mark Dundon (Dallas).