![linde praxair news linde praxair news](https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iccEPFs4_A2E/v5/-1x-1.jpg)
Shares of Praxair will be converted one for one into stock in a new company that will begin an offer to buy Linde, in what the companies call a merger of equals. 20, creating a company with revenues of about 30 billion and a current market value of more than 65 billion.The two companies have been courting each other, on and off, for two years.Linde, which bought Lincare for 4.6. Praxair won over Linde's board by agreeing to keep operations in Munich and preserve jobs, according to the news agency. Aldo Belloni, CEO of Linde, said: “Beyond the strategic fit, the compelling, value-creating combination would achieve a robust balance sheet and cash flow and generate financial flexibility to invest in our future. Linde and Praxair announced their intention to merge on Dec. Linde delivers innovative and sustainable solutions to its customers and creates long-term. The company employs approximately 80,000 people globally and serves customers in more than 100 countries worldwide.
#LINDE PRAXAIR NEWS PRO#
Steve Angel, Praxair’s chairman and chief executive officer, said: "We consider this to be a true strategic merger, as it brings together the capabilities, talented people and best-in-class processes of both companies, creating a unique and compelling opportunity for all of our stakeholders." Linde is a leading industrial gases and engineering company with 2018 pro forma sales of USD 28 billion (EUR 24 billion). The groups said the transaction is “expected to create considerable value, resulting in approximately $1bn (€0.9bn) in annual synergies.” The two sides said they had also agreed on key management positions and the location of corporate functions and management. By using our website you agree to our use of cookies in accordance with our cookie policy. We use cookies to give you the best online experience. ( NYSE:PX) and its German counterpart Linde AG said today that they have agreed terms for a US$65bn merger-of-equalsĪfter the German firm revived merger talks with its US peer earlier this month, the two groups said the combined company would be named Linde, retaining the “globally recognized brand” and would be listed on both the New York Stock Exchange and Frankfurt Stock Exchange.Ĭurrent Linde and Praxair shareholders will each own about 50% of the combined company, based on a proposed exchange ratio of 1.54 shares in the new holding company for each Linde share and one share in the new holding company for each Praxair share. Industrial Gas news covering North America including Airgas, Linde, Air Products, Praxair, Matheson, Taylor-wharton and more. If the merger is derailed, it would mark the second botched attempt by both companies to join forces after initial talks in 2016 collapsed on reports of infighting over executive positions and management locations.Industrial gases group Praxair Inc. Linde said discussions with US regulators were continuing to find "a mutually acceptable result." The two companies have set a deadline of October 24 to complete the $65-billion, all-share deal. Meanwhile, in a concession to EU antitrust regulators, Praxair has promised to offload businesses worth $5.9 billion. Hoping to earn competition authorities' favor for the merger, Linde has already agreed to sell off much of its business in the Americas for $3.3 billion if the deal goes ahead. Read more: Linde-Praxair merger creates global industrial gases leaderĪntitrust authorities on both sides of the Atlantic are closely scrutinizing the deal, which would create the world's largest industrial gases firm with annual revenues of more than $30 billion (€25.9 billion), overtaking Linde's longtime French rival Air Liquide.Īccording to Bloomberg News, both groups agreed in advance they could pull out of the merger if they were forced to offload units with more than €3.7 billion ($4.28 billion) in annual revenues, or €1.1 billion in earnings before interest, depreciation and amortization.
![linde praxair news linde praxair news](https://static.dw.com/image/36844951_101.jpg)
Linde said in a statement over the weekend that efforts to win approval for the merger could be subject to requirements "more onerous than previously expected." Demands by US regulators for further divestitures "are likely to exceed a threshold for merger clearances previously agreed between Linde and Praxair," it added. The United States' Federal Trade Commission has indicated it wants the companies to sell more assets before it approves their deal. Linde's share price tanked 9.1 percent in morning trading at the Frankfurt Stock Exchange on Monday, following an announcement by the German industrial gases maker that new measures demanded by US regulators could exceed a "threshold" agreed with Praxair - potentially scuppering the deal. 31 on the private TT100 with 1,115 tractors, 1,787 straight trucks and 3,677 trailers, while Linde North America, based in Murray Hill, New Jersey, ranks No.