Praxair Shareholders Approve Merger with Linde
Praxair’s shareholders have overwhelmingly approved the proposed merger with Linde. At a special shareholders meeting on Sept. 27, about 83% of the total issued and outstanding shares of Praxair common stock was in favor of the deal, exceeding the required majority and representing approximately 99% of the total votes cast.
“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 CEO.
The approval is an essential step toward combining the two major industrial gases group under new holding company, Linde plc. However, 75% of Linde’s shareholders must tender their stock to the new company by Oct. 24 for the merger to go ahead, as well as obtaining antitrust approvals and fulfilling other customary closing conditions.
Praxair and Linde expect the transaction to complete in the second half of 2018.
