Sector News

Linde rejects request to vote on Praxair merger at AGM

April 12, 2017
Chemical Value Chain

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

Source: Reuters

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