Praxair announced today that shareholders approved the business combination with Linde AG at Praxair’s special meeting of shareholders.
This approval completes a key milestone in combining two leading companies in the global industrial gas industry under a new holding company named “Linde plc.”
Approximately 83% of the total issued and outstanding shares of Praxair common stock voted to approve the business combination, exceeding the required vote of a majority of the issued and outstanding shares, and representing approximately 99% of the total votes cast at the special meeting on this proposal.
“Today’s vote confirms that Praxair shareholders support this transaction and brings us one step closer to creating a world-class leader in the industrial gas industry,” said Steve Angel, Praxair’s Chairman and Chief Executive Officer.
The business combination remains subject to the satisfaction of all other transaction closing conditions, including achieving the minimum acceptance ratio of 75% in Linde plc’s exchange offer for Linde AG shares, and the receipt of all regulatory approvals and certain other customary closing conditions. The business combination is expected to be completed in the second half of 2018.
Additionally, Praxair shareholders approved all other proposals at the special meeting, including:
Praxair will file a Form 8-K with the Securities and Exchange Commission to report the voting results of all proposals.
By Joanna Sampson
Source: GasWorld
The European Union said Monday that it has approved Agrofert Group’s acquisition of Borealis AG’s nitrogen business after concluding that the deal wouldn’t raise competition concerns. Agrofert is a Czech conglomerate, while Austrian chemical and fertilizer company Borealis is 75%-owned by OMV AG with the remaining 25% held by Abu Dhabi National Oil Co.
LyondellBasell Industries N.V. and Mepol Group announced they have entered into a definitive agreement for LyondellBasell to acquire Mepol Group, a manufacturer of recycled, high-performing technical compounds located in Italy and Poland.
Univar Solutions Inc and Apollo announced that funds managed by affiliates of Apollo have entered into a definitive merger agreement to acquire the Company in an all-cash transaction that values the Company at an enterprise value of approximately $8.1 billion.
