FTC clears Linde-Lincare deal
MUNICH, Germany, and CLEARWATER, Fla. – The Federal Trade Commission (FTC) has cleared one of the conditions needed for The Linde Group to acquire Lincare Holdings for $4.6 billion, the two companies announced this week.
The FTC has granted early termination of the waiting period under the Hart-Scott-Rodino (HSR) Antitrust Improvements Act, according to a press release.
“The termination of the HSR Act waiting period satisfies one of the conditions necessary for the consummation of the tender offer,” the release stated.
The tender offer is scheduled to expire at midnight EST on Aug. 7. Consummation remains subject to other customary conditions, including the tender of at least a majority of Lincare’s outstanding shares of common stock, according to the release.
Under the HSR Act, parties must not complete certain mergers, acquisitions or transfers of securities or assets, including grants of executive compensation, until they have made a detailed filing with the FTC and Department of Justice and waited for those agencies to determine the transaction will not adversely affect U.S. commerce under the antitrust laws.
Linde announced plans to acquire Lincare in June.