Sector News

Linde says acceptance period for Praxair merger starts

August 16, 2017
Energy & 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

comments closed

Related News

July 14, 2024

Europe ethylene spot prices turn firmer on demand, feedstock, looming cracker turnarounds

Energy & Chemical Value Chain

European ethylene spot prices have firmed week on week on the back of better-than-expected demand amid higher feedstock values and an increasing focus on upcoming planned cracker maintenance outages. Spot deals this week have been reported at discounts of 32-35% on the pipeline, prior deals had been at discounts of around 38-39%.

July 14, 2024

Marcel Imwinkelried appointed new Siegfried CEO

Energy & Chemical Value Chain

He will succeed Reto Suter, who has led the Siegfried Group as CEO ad interim since the departure of Wolfgang Wienand on May 1, 2024. Suter will now focus on his role as Chief Financial Officer for Siegfried. Wienand will become CEO of Swiss competitor Lonza.

July 14, 2024

Honeywell acquires Air Products’ LNG technology, business for $1.8B

Energy & Chemical Value Chain

Honeywell Inc. (Charlotte, North Carolina) has reached agreement to acquire Air Products’ (Leigh Valley, Pennsylvania) liquefied natural gas process technology and equipment business for $1.81 billion. The deal is expected to close before the end of the year. The price represents a multiple of 13 times the unit’s estimated 2024 EBITDA.

How can we help you?

We're easy to reach