Linde AG (LIN), the world’s second-biggest maker of industrial gases, said it plans to fund the acquisition of Lincare Holdings Inc. (LNCR:US) with a $4.5 billion acquisition loan and existing cash.
The acquisition loan will be refinanced with a share sale of as much as 1.5 billion euros ($1.9 billion) and by other debt, the Munich, Germany-based company said in the statement. It will seek to maintain its current credit ratings of A by Standard & Poor’s and A3 by Moody’s Investors Service.
Linde said today it agreed to buy Lincare in Clearwater, Florida for about $4.6 billion including assumed debt. Lincare provides oxygen and respiratory therapy services.
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