By Jemima Owen-Jones2017-10-16T13:56:00+01:00
The proposed business combination between Praxair, Inc. and Linde AG received unconditional antitrust clearance in Russia, satisfying a closing condition.
Linde plc is a newly incorporated public limited company formed on the 18th April 2017, that will become the parent company of Praxair and Linde AG upon the completion of the business combination.
The business combination remains subject to the satisfaction of other transaction closing conditions, including achieving the minimum acceptance ratio of 75% in Linde plc’s exchange offer for Linde AG shares, and the receipt of all other regulatory approvals and certain other customary closing conditions.
The acceptance period for Linde plc’s exchange offer will expire on 24th October 2017 at 24:00 hours, Central European Time, unless extended. The business combination is expected to be completed in the second half of 2018.
The potential Praxair-Linde merger may not affect the Asian market on the same scale as in European and North American markets. However, there are a few regions where anti-trust authorities could impose divestments onto the newly combined company.
It’s on: Board approvals and conclusion have been reached in a definitive Business Combination Agreement for the mega merger of equals between Praxair, Inc. and The Linde Group, with only antitrust approval and legal due diligence standing between the deal and a 2018 completion.
The $70bn merger of Praxair, Inc. and The Linde Group has moved another step closer, after the registration statement filed with the US Securities and Exchange Commission (SEC) by Linde plc on 5th June, as amended, was declared effective yesterday (14th August).
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