Linde: recommends acceptance of exchange offer.
(CercleFinance.com) - The executive board and the supervisory board of Linde have recommended that shareholders vote in favor of the exchange offer set to precede its merger with US rival Praxair.
The German industrial gas group's governing bodies "are of the opinion that the business combination is in the best interests of Linde AG, its shareholders and other stakeholders."
Both boards explain that they expect the shares of the combined group to have a better valuation in the capital markets than those of Linde.
Under terms of the deal, Linde AG business will be brought under Linde plc through an exchange offer under German law, while Praxair's business will be brought under Linde plc through a merger transaction in the US.
Linde plc shares will then be listed on both the New York Stock Exchange and Frankfurt Stock Exchange and Linde plc will apply for inclusion in the S&P 500 and DAX 30.
The combined group is expected to have pro-forma revenues of approximately 27 billion euros.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The German industrial gas group's governing bodies "are of the opinion that the business combination is in the best interests of Linde AG, its shareholders and other stakeholders."
Both boards explain that they expect the shares of the combined group to have a better valuation in the capital markets than those of Linde.
Under terms of the deal, Linde AG business will be brought under Linde plc through an exchange offer under German law, while Praxair's business will be brought under Linde plc through a merger transaction in the US.
Linde plc shares will then be listed on both the New York Stock Exchange and Frankfurt Stock Exchange and Linde plc will apply for inclusion in the S&P 500 and DAX 30.
The combined group is expected to have pro-forma revenues of approximately 27 billion euros.
Copyright (c) 2017 CercleFinance.com. All rights reserved.