German China India

Approval of Antitrust Authority

Green Light for Merger of Linde and Praxair

| Editor: Alexander Stark

The U.S. Federal Trade Commission (FTC) has provided clearance of the business combination between Linde and Praxair.
The U.S. Federal Trade Commission (FTC) has provided clearance of the business combination between Linde and Praxair. (Source: Linde Group)

After the approval of the European Commission, the US Federal Trade Commission (FTC) has also provided clearance of the business combination between Linde and Praxair, subject to the completion of certain sales of business activities and related commitments.

Munich/Germany; Danbury/USA — The necessary divestments in the United States include, in particular, the sale of substantially all of Linde’s US bulk business as well as the sale of certain carbon monoxide, hydrogen and steam methane reforming businesses. The company is obliged to complete the divestments by January 29, 2019; thereafter, the divestitures would be completed as directed by the FTC. Furthermore, both companies are temporarily obliged to continue to operate their businesses globally as separate and independent companies, and not to coordinate any of their operations. Such hold separate order will end upon completion of the majority of the divestitures.

Does the Linde-Praxair Merger Run Out of Steam?

USA: Further Antitrust Demands

Does the Linde-Praxair Merger Run Out of Steam?

08/26/2018 - The planned merger of Praxair and Linde threatens to fail on the demands of the US antitrust body. Apparently, the FTC is demanding further asset sales, which could exceed the self-imposed limit the two companies agreed on. Linde and Praxair set the threshold for divestment of assets at $ 4.3 billion. read...

Following the antitrust approval from the FTC and the buyer-approval in respect of the sale of the majority of the European gases business of Praxair to the Japanese industrial gases manufacturer Taiyo Nippon Sanso Corporation, which was provided earlier today, all conditions for the completion of the business combination are satisfied. The settlement of the exchange offer of Linde plc to the Linde shareholders is expected to occur by October 31, 2018. Linde plc shares will be listed on the Frankfurt Stock Exchange as well as on the New York Stock Exchange.

On balance, the merger parties expect targeted annual synergies and cost efficiencies to be in a range of $ 1.1 to 1.2 billion to be achieved over approximately three years.

Comments are being loaded ....

Leave a comment

The comment is checked by an editor and will be released soon.

  1. Avatar
    Avatar
    Edited by at
    Edited by at
    1. Avatar
      Avatar
      Edited by at
      Edited by at

Comments are being loaded ....

Report comment

Kommentar Freigeben

Der untenstehende Text wird an den Kommentator gesendet, falls dieser eine Email-hinterlegt hat.

Freigabe entfernen

Der untenstehende Text wird an den Kommentator gesendet, falls dieser eine Email-hinterlegt hat.

copyright

This article is protected by copyright. You want to use it for your own purpose? Infos can be found under www.mycontentfactory.de (ID: 45563310 / Business & Economics)