German industrial gases group Linde said the 10-week acceptance period for its proposed $74 billion merger with U.S. peer Praxair started on Tuesday and would run through Oct. 24.
The deal will create a global leader to overtake France’s Air Liquide with a combined market value of $75 billion, revenue of $30 billion and 88,000 staff.
Linde will need 75 percent of its shareholders to tender their stock to the new company. Praxair needs a simple majority vote at a shareholder meeting, which Linde said on Tuesday had been set for Sept. 27.
By Maria Sheahan
Source: Reuters
INEOS Styrolution, the global leader in styrenics, has today announced the official opening of a new world-scale ABS[1] facility located in Ningbo, China, together with its joint venture partner SINOPEC. The facility has an annual nameplate capacity of 600,000 tonnes.
The merger of Röhm’s Acrylic Products business unit and SABIC’s Functional Forms business has resulted in the formation of Polyvantis. This new company will offer extruded products in the forms film, sheet, pipe and rod for markets that include building and construction, transportation and aviation, electrical and electronics, automotive and home and garden.
Abu Dhabi National Oil Co. (Adnoc) is considering plans to acquire upstream oil and gas company Wintershall DEA, an affiliate of BASF SE, according to a Bloomberg report citing people with knowledge of the matter. A deal to acquire Wintershall DEA could be worth more than €10 billion, the report said. BASF and Adnoc declined to comment on the report.
