The Federal Trade Commission (FTC) has extended a 29th January deadline for completion of the sales of certain Linde plc US-based assets until 1st March 2019 due to the US government shutdown.
Linde must divest certain assets as part of its $90bn merger with Praxair, which was announced in October to create a new global leader in the industrial gas industry.
Linde said in a statement, “Linde plc continues to work diligently to conclude the FTC review process and complete the US divestiture transactions by or before 1 March 2019.”
The political stand-off in the US was in its fifth week at the time of the FTC’s announcement of an extended deadline.
The FTC said it will require Linde and Praxair to divest assets in nine industrial gas product markets in the US as part of the settlement that resolves charges that the merger would be anti-competitive.
The Federal Trade Commission (FTC) said yesterday that it will require Praxair, Inc. and Linde AG to divest assets in nine industrial gases product markets in numerous geographic markets in the US, as part of a settlement that resolves charges that their proposed merger would likely be anticompetitive.
Linde plc has announced its Board of Directors has authorised a share repurchase programme for up to $1bn of its ordinary shares.
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