Sector News

Linde could lower threshold for Praxair exchange offer

September 20, 2017
Chemical Value Chain

German industrial gases group Linde does not rule out lowering the shareholder acceptance threshold for its planned $75 billion merger with U.S. peer Praxair, its chief executive told German magazine Euro.

“We don’t expect it will be necessary. But if it were, we would speak to Praxair about it,” Aldo Belloni said in comments released on Tuesday.

Linde shareholders have until Oct. 24 to exchange their Linde shares for shares in the new, combined company. An acceptance rate of 75 percent has been set for the merger to go through. Praxair shareholders will separately vote on the issue at a special general meeting.

Norges, the world’s biggest sovereign wealth fund, said earlier it had tendered all its shares and would vote in favour of the merger at the Praxair meeting on Sept. 27. Norges is Linde’s second-biggest shareholder, with 5 percent, and also owns 1 percent of Praxair.

By Georgina Prodhan

Source: Reuters

comments closed

Related News

October 23, 2021

INEOS to take leading role in the hydrogen revolution with launch of hydrogen campaign

Chemical Value Chain

INEOS, Europe’s biggest operator of electrolysis needed to produce clean, low carbon hydrogen, has doubled down on its €2 billion investment in green hydrogen with the launch of a hydrogen advocacy campaign. The campaign kicked off with the publication of a powerful editorial in the Sunday Telegraph on the hydrogen economy written by Sir Jim Ratcliffe, INEOS’s founder and chairman.

October 23, 2021

Vertellus completes acquisition of IM Chemicals

Chemical Value Chain

Vertellus, a manufacturer of specialty products for consumer goods, food & agriculture, healthcare, and industrial markets, today announced the completion of its acquisition of IM Chemicals. With the addition of IM Chemicals, Vertellus expands its specialty ingredients portfolio into new markets and bolsters its manufacturing capabilities in Europe.

October 23, 2021

Johnson Matthey announces research project aimed at catalytic reduction if dairy methane emissions

Chemical Value Chain

A new collaboration between scientists, engineers, industry and farming experts hopes to demonstrate how clever technology can reduce the powerful greenhouse gases released by livestock to help agriculture reach carbon emissions targets.

Send this to a friend