Brussels will rule on the $80bn tie-up between Linde, the German chemicals group, and its US rival Praxair on Monday, an important milestone in a deal that would create the world’s largest industrial gas supplier.
Margrethe Vestager, the EU’s competition commissioner, is expected to clear the merger after the companies provisionally agreed to sell €5bn of Praxair’s European assets to Japanese rival Taiyo Nippon Sanso, to address concerns that the deal would raise prices and reduce choice for consumers.
> Read the full article on the Financial Times website
By Rochelle Toplensky
Source: Financial Times
3M and Dow have announced they are cutting thousands of roles from their global workforces in response to economic pressures. Dow has said it will cut 2,000 jobs across its global workforce (around 5%) in a bid to save US$1bn in 2023. The company says it will also cut costs by shutting down “select assets”, though it did not note where it would halt operations.
Sweden’s state mining firm has discovered what could be Europe’s largest rare earths deposit, and says it could help the bloc reduce its reliance on imports of minerals needed to manufacture clean technologies and meet climate targets.
Henkel and Avantium have been partners since 2019, when Henkel joined the PEFerence consortium. This consortium of partners, coordinated by Avantium, aims to establish an innovative supply chain for FDCA and PEF (polyethylene furanoate).