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Linde says acceptance period for Praxair merger starts

Published 15/08/2017, 09:20
Updated 15/08/2017, 09:20
© Reuters. The Praxair logo is seen during a news conference in Munich

© Reuters. The Praxair logo is seen during a news conference in Munich

FRANKFURT (Reuters) - German industrial gases group Linde (DE:LING) said the 10-week acceptance period for its proposed $74 billion merger with U.S. peer Praxair (N:PX) started on Tuesday and would run through Oct. 24.

The deal will create a global leader to overtake France's Air Liquide (PA:AIRP) with a combined market value of $75 billion (57.96 billion pounds), revenue of $30 billion and 88,000 staff.

© Reuters. The Praxair logo is seen during a news conference in Munich

Linde will need 75 percent of its shareholders to tender their stock to the new company. Praxair needs a simple majority vote at a shareholder meeting, which Linde said on Tuesday had been set for Sept. 27.

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