#Linde merger pro

The closing process will occur in two steps, starting with the settlement of the Linde plc exchange offer to Linde AG shareholders, which has been accepted for approximately 92% of Linde AGвЂ™s outstanding shares. The parties expect the transaction to close on 31 October 2018. I am confident this team will create long-term value for all Linde plc stakeholders.вЂќ вЂњIt is a privilege for me to lead the talented people of two world-class organizations as we come together to form the undisputed leader in our industry. вЂњToday marks an important milestone in the formation of our new company,вЂќ said Steve Angel, who will serve as Chief Executive Officer of Linde plc. вЂњI wish to thank the employees of Linde and Praxair for their efforts in making this merger possible.вЂќ вЂњThe merger of Linde and Praxair is a compelling and transformative combination and an unparalleled opportunity for the customers, shareholders and employees of our combined company,вЂќ said Wolfgang Reitzle, who will serve as Chairman of Linde plcвЂ™s Board of Directors.

#Linde merger pro

The combined entity is a global industrial gas leader, generating 2017 pro forma revenues of approximately USD 27 billion, with over 80,000 employees across more than 100 countries serving over two million customers. (NYSE: PX) were satisfied after the European Commission approved the buyer of PraxairвЂ™s divestment business in Europe and the Federal Trade Commission provided merger clearance of the business combination in the United States. Guildford, UK (22 October 2018) вЂ“ Linde plc today announced that the final closing conditions for the merger of equals between Linde AG (FWB: LINU and FWB: LIN) and Praxair, Inc. Trading of Linde plc shares is expected to commence on the Frankfurt Stock Exchange on 29 October 2018 and on the New York Stock Exchange on 31 October 2018.All-stock transaction: Linde AG shareholders to receive 1.54 shares in Linde plc for each Linde AG share tendered, and Praxair shareholders to receive one share in Linde plc for each Praxair share.Governed by a Board of Directors with equal representation from Linde AG and Praxair.Robust balance sheet and cash flow with financial flexibility to invest in future growth.

Generates substantial value driven by targeted annual synergies and cost efficiencies expected in the range of USD 1.1 to 1.2 billion to be achieved over approximately three years.Establishes strong, complementary positions in all key geographies and end-markets, creating a more diverse and balanced portfolio.Leverages unique strengths of each company: Linde AGвЂ™s long-standing leadership in engineering and technology with PraxairвЂ™s operational excellence.Creates leading industrial gas company, with a market capitalization of approximately USD 90 billion.in 1917 it was spun off as Praxair in 1992. It was part of a group of four chemical companies that formed Union Carbide and Carbon Corp. The merger represents something of a homecoming for Praxair, which began life as Linde Air Products Co. Linde Chairman and CEO Wolfgang Reitzle will remain as chairman of the new entity.

Corporate operations will remain in Danbury and Munich. Praxair CEO Steve Angel will become chief executive of the merged company, whose official headquarters will be in Dublin. 30, with PraxairвЂ™s common stock expected to be delisted from the NYSE. Trading in shares of PraxairвЂ™s common stock is expected to be suspended on the NYSE as of close of business on Oct. The new Linde PLC shares are expected to start trading on the New York Stock Exchange and the Frankfurt Stock Exchange under the ticker symbol LIN.

The firms said they expect the transaction to close on Oct. 24 deadline to complete the deal under German financial market rules вЂ“ almost two years after agreeing to the deal in principle in December 2016, following several months of on-again/off-again talks. The FTC approval came through at practically the last possible moment: The companies were facing an Oct. The resulting company will employ about 80,000 people across more than 100 countries. operations to German competitor Messer Group, while Danbury-based Praxair sold most of its European operations to JapanвЂ™s Taiyo Nippon Sanso for $6 billion. The combined entity, which will operate as Linde PLC, will have a market capitalization of about $90 billion and annual revenue of more than $30 billion.В The Munich-based Linde was required to sell off $3.3 billion of its U.S. Federal Trade Commission, clearing the last significant hurdle to creating the worldвЂ™s largest industrial gas supplier. Two-plus years after it was first announced, the $86 billion merger between Praxair and Linde has been approved by the U.S.