FRANKFURT--German industrial gas supplier Linde AG (LIN.XE) said
Monday its executive board approved a capital increase by issuing
up to 13 million new no-par-value bearer shares with exclusion of
subscription rights to shareholders.
The new shares will be offered to institutional investors within
an international private placement by way of an accelerated
bookbuilding and a public offer won't take place, Linde said.
The capital increase is one element of the funding of the
intended acquisition of U.S. respiratory therapy and services
provider Lincare Holdings Inc. (LNCR) by Linde, it said, adding
that the total consideration of the acquisition will be $4.6
billion.
The issue price is expected to be set and published July 10, it
added.
On Monday, Linde shares closed at EUR115.20, down 1.2%, in
Frankfurt.
Write to Emese Bartha at emese.bartha@dowjones.com