Lincare merger to cause fundamental change for 2.75% convertible notes

By Jennifer Chiou

New York, July 19 - Lincare Holdings Inc. said it anticipates that a fundamental change will occur in August under the terms of its series A and series B 2.75% convertible senior debentures due 2037 following its merger with Linde AG.

The merger agreement involves Lincare, Linde and Linde US Inc., a newly formed Delaware corporation and an indirect wholly owned subsidiary of Linde AG. Linde US began a tender offer for all Lincare share at $41.50 apiece on July 11.

The offer will expire at midnight ET on Aug. 7.

As a result of the anticipated fundament change on or after Aug. 8, holders will have the right to convert their securities at any time before the close on the business day immediately preceding the 30th business day after the effective date.

Any and all conversions will be settled in cash, according to a news release.

Lincare is a Clearwater, Fla.-based provider of oxygen, respiratory and other chronic therapy services to patients in the home. The company's shares (Nasdaq: LNCR) closed at $41.34 each on Thursday.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.