Germany’s Linde has for a second time rejected a request for a shareholder vote at its annual general meeting next month on its planned $65 billion merger with U.S. industrial gases rival Praxair.
Linde said shareholders would in any case have to decide individually whether to accept a public offer from the new combined holding company, so a vote at the AGM on May 10 would not be appropriate.
“Even if a qualified majority of Linde shareholders would accept the exchange offer, not a single Linde shareholder will be forced to exchange his shares,” it said in a filing to the U.S. Securities and Exchange Commission.
Linde was responding to a renewed request from German private-investor association DSW, which came on behalf of shareholders Aberdeen Asset Management and BayernInvest.
By Georgina Prodhan and Jens Hack
VEOLIA has agreed a deal to buy its rival Suez, ending a fraught takeover battle that merges the world’s two largest water and wastewater companies.
Borealis Group AG has commenced a new project to secure an increased supply of chemically recycled feedstock for the production of more circular base chemicals and polyolefin-based products.
The call is part of a campaign by Ceres, a nonprofit organization transforming the economy, and the We Mean Business coalition – a global, nonprofit coalition that collaborates with progressive businesses, to bolster action on climate change towards a zero-carbon economy.