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
The investment enables the steam cracker to increase the share of renewable and recycled raw materials used in its (ethylene and propylene) production. The move supports the Borealis Strategy 2030 for a circular economy. The Porvoo investment program is expected to be completed in 2025.
Murray Auchincloss, bp’s CEO, said in a statement: “As I set out in February, BP’s destination from IOC [international oil company] to IEC [integrated energy company] is unchanged – and we need to deliver as a simpler, more focused, and higher-value company.
Founded in 1972, Tecnofilm has expanded its product portfolio over the years to offer a wider range of compounds and functional polymers for various industrial applications and technical articles. The company has patented several of its products.
