Clock Ticking on Linde-Praxair Merger
The 10-week acceptance period for the proposed $74 billion merger of Germany’s Linde with US rival Praxair began on Aug. 15 and will run through Oct. 24, Linde has announced.
If successful, the deal would create a global leader in the global gases market. With a market value of $75 billion at current exchange rates, $30 billion in annual sales and 88,000 employees, the combined company – which will trade as Linde – would pass the current leader, France’s Air Liquide.
With its own acquisition of Airgas in mid-2016 for $13 billion, Air Liquide knocked the standalone Linde out of first place.
Altogether 75% percent of Linde’s shareholders will have to tender their stock to the new company for the merger to succeed. Praxair needs only a simple majority vote.
