Linde: definitive merger agreement with Praxair.
(CercleFinance.com) - German industrial gases supplier Linde and its US competitor Praxair said on Thursday that they have entered into a definitive business combination agreement to create a world-class leader that has a market value in excess of 70 billion dollars.
Under the proposed terms of the deal, Linde shareholders will be offered 1.54 shares in the new holding company for each Linde share, and Praxair shareholders will receive one share in the new holding company for each Praxair share.
As a result, current Linde and Praxair shareholders will each own approximately 50% of the combined company.
The combined company will be called Linde, retaining a "globally-recognized brand" and will be listed on both the New York Stock Exchange and Frankfurt Stock Exchange.
Based on 2016 reported results, the combination will create a company with pro-forma revenues of approximately 29 billion euros (27 billion euros).
The merged company is expected to create approximately 1.2 billion dollars (1.1 billion euros) in annual synergies and cost reductions over a period of approximately three years.
The closing is expected in the second half of 2018.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
Under the proposed terms of the deal, Linde shareholders will be offered 1.54 shares in the new holding company for each Linde share, and Praxair shareholders will receive one share in the new holding company for each Praxair share.
As a result, current Linde and Praxair shareholders will each own approximately 50% of the combined company.
The combined company will be called Linde, retaining a "globally-recognized brand" and will be listed on both the New York Stock Exchange and Frankfurt Stock Exchange.
Based on 2016 reported results, the combination will create a company with pro-forma revenues of approximately 29 billion euros (27 billion euros).
The merged company is expected to create approximately 1.2 billion dollars (1.1 billion euros) in annual synergies and cost reductions over a period of approximately three years.
The closing is expected in the second half of 2018.
Copyright (c) 2017 CercleFinance.com. All rights reserved.