Linde’s public takeover offer in the form of an exchange offer, has now exceeded its acceptance ratio of 60% – achieving a threshold of 74%.
Based on the declarations of acceptance received and booked so far by the custodian banks for the voluntary public takeover offer, in the form of an exchange offer of Linde plc to the shareholders of Linde AG to acquire all ordinary bearer shares without par value of Linde AG in connection with the planned merger of equals with Praxair, Inc., the acceptance ratio has exceeded the 74% threshold.
As a consequence, it is anticipated that, subject to any potential withdrawals which have not yet been booked, the termination rights of Linde and Praxair under the business combination agreement, with respect to certain covenants in case that the acceptance ratio as of the end of the two-week additional acceptance period pursuant to section 16(2) WpÜG had not reached the threshold of 74%, will cease.
The remaining termination rights under the business combination agreement with respect to certain covenants continue to exist.
The business combination remains subject to the receipt of all regulatory approvals.