Sector News

Linde says acceptance period for Praxair merger starts

August 16, 2017
Chemical Value Chain

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

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