Linde supervisory board Chairman Wolfgang Reitzle is still in favor of a tie-up between the German industrial gases maker and U.S. rival Praxair (PX.N), which has made a renewed merger proposal, German newspaper Handelsblatt reported.
The business daily cited sources close to the supervisory board as saying that Reitzle preferred a tie-up over going it alone and was also concerned that Praxair might turn hostile.
Praxair’s recent concessions to Linde include giving the German group’s Munich headquarters a bigger role than initially planned and as well as providing some job guarantees, Handelsblatt and daily Sueddeutsche Zeitung said in separate reports, without specifying their sources. Praxair has revived efforts to combine with Linde, with sources telling Reuters on Wednesday it has tried to address the main stumbling blocks to merger talks.
The collapse of initial negotiations in September led to the departure of finance chief Georg Denoke and Chief Executive Wolfgang Buechele staying on only until April, leaving Chairman Reitzle as the most powerful figure at Linde.
By Ludwig Burger
Industrial technology provider Husky Injection Molding Systems is partnering with injection molding specialist Chem-Trend to design a color change system for packaging manufacturers to ensure repeatability and a more optimized and accurate process.
The agreement encompasses 120 filling stations, as well as OMV’s wholesale business in Slovenia. The transaction is subject to required regulatory approvals and closing is expected in 2022.
Xavier Aeby and Gustav Nyström from Empa’s Cellulose & Wood Materials lab invented a fully printed biodegradable battery made from cellulose and other non-toxic components.