Clearwater-Based Lincare Bought For $4.6 Billion

Clearwater-based , a home oxygen supplier and one of Tampa Bay's largest public companies, struck a deal to be acquired by Germany's Linde AG on Sunday, the Tampa Bay Times reports.

The price tag? A staggering $4.6 billion.

Lincare on Monday recommended its shareholders accept the takeover bid by the industrial gas supplier, The Wall Street Journal's MarketWatch reports.

According to Lincare, the market for home ventilators and oxygen tanks for people with asthma and other diseases is worth $6 billion annual. The Clearwater's annual sales total $1.8 billion, and it has more than 800,000 customers, MarketWatch reports.

Lincare CEO John Byrnes told the Times the deal affords his company "benefits it would not be able to realize on its own."

The acquisition will be completed by the end of September, the Times reports.