Linde said it has so far not reached the upper size limit for the divestments that are needed to secure antitrust approval for the planned tie-up with industrial-gases rival Praxair but that the matter could be negotiable with the prospective merger partner.
The companies previously agreed that if regulators demanded the disposal of businesses with more than $3.7 billion in sales or $1.1 billion in earnings before interest, taxes, depreciation and amortization (EBITDA), either party could withdraw without penalty.
“Should this be the case anyway, Linde and Praxair will coordinate any further steps to be taken,” Linde Chief Executive Aldo Belloni said at the German group’s shareholder meeting.
By Alexander Huebner
This is the first acquisition by Iberchem since it was acquired by Croda in November 2020 and it is expected to play an important role in Iberchem’s plan to increase its offering of sustainable and natural certified fragrances.
ICL, a leading global specialty minerals and specialty chemicals company, has entered into a definitive agreement to acquire Compass Minerals América do Sul S.A. for approximately $402 million.
OMV says its European petrochemical net margins in the first quarter of 2021 rose sequentially compared with the fourth quarter, reversing momentum after four previous periods of declining margins.