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Linde: cuts acceptance threshold for exchange offer.

(CercleFinance.com) - German industrial gases group Linde said on Monday that it has lowered the minimum number of acceptances from shareholders on its exchange offer, after securing just over 50% of the shares.

Linde has reduced the minimum acceptance ratio to 60%, from 75% previously, on the voluntary public takeover offer, which is set to precede its merger with US rival Praxair.

The company said this morning that it had collected 94.3 million Linde shares as from 20 October, which represents approximately 50.8% of the company's total equity capital and voting rights.

The reduced minimum acceptance ratio now needs to be reached by 7 November.

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