Aldo Belloni, CEO of Linde, said: “Beyond the strategic fit, the compelling, value-creating combination would achieve a robust balance sheet and cash flow and generate financial flexibility to invest in our future. Steve Angel, Praxair’s chairman and chief executive officer, said: "We consider this to be a true strategic merger, as it brings together the capabilities, talented people and best-in-class processes of both companies, creating a unique and compelling opportunity for all of our stakeholders." The groups said the transaction is “expected to create considerable value, resulting in approximately $1bn (€0.9bn) in annual synergies.” The two sides said they had also agreed on key management positions and the location of corporate functions and management. ( NYSE:PX) and its German counterpart Linde AG said today that they have agreed terms for a US$65bn merger-of-equalsĪfter the German firm revived merger talks with its US peer earlier this month, the two groups said the combined company would be named Linde, retaining the “globally recognized brand” and would be listed on both the New York Stock Exchange and Frankfurt Stock Exchange.Ĭurrent Linde and Praxair shareholders will each own about 50% of the combined company, based on a proposed exchange ratio of 1.54 shares in the new holding company for each Linde share and one share in the new holding company for each Praxair share. The new board will have equal representation from both companies.Industrial gases group Praxair Inc. Mr Angel will become chief executive of the new company. Linde’s chairman Wolfgang Reitzle will continue in that role. Beyond the strategic fit, the compelling, value-creating combination would achieve a robust balance sheet and cash flow and generate financial flexibility to invest in our future," said Professor Dr. "Under the Linde brand, we want to combine our companies’ business and technology capabilities and form a global industrial gas leader. "We consider this to be a true strategic merger, as it brings together the capabilities, talented people and best-in-class processes of both companies, creating a unique and compelling opportunity for all of our stakeholders." Due to the name change, Praxairs tile on the U Market home screen can be found under the tile labeled. All products and product numbers will remain the same and can be reordered as usual. "The strategic combination between Linde and Praxair would leverage the complementary strengths of each across a larger global footprint and create a more resilient portfolio with increased exposure to long-term macro growth trends," said Steve Angel, Praxair’s chairman and chief executive. As of Monday, October 11, U Markets gas supplier, Praxair will be operating under the name, Linde.
Linde praxair news driver#
The companies have also identified considerable cost savings as being a key driver behind the deal, targeting annual cost savings of around $1bn. According to data from the companies, a combined Linde-Praxair combination would generate around $30bn in annual sales before divestitures. 31 on the private TT100 with 1,115 tractors, 1,787 straight trucks and 3,677 trailers, while Linde North America, based in Murray Hill, New Jersey, ranks No. Linde is currently the industry’s second biggest specialty gas provider Praxair is the third biggest.
Linde’s business focuses primarily on Europe and Asia, while Praxair is more dominant in the US and Latin America. are resuming talks about a possible merger that they abandoned in September. The two companies have pursued a merger in order to create a new industry leader from two regional giants. The merger, like many of the industry consolidation deals announce in 2016, is expected to encounter some tough regulatory scrutiny. Merger talks between the two companies had collapsed earlier this year however they were revived following the dismissal of Linde’s finance director Georg Denoke.
Praxair shares rose 53 cents to 117.94 in morning trading in New York. For over a century, Linde has been dedicated to safety and customer satisfaction. Under the terms of the merger, existing Linde and Praxair shareholders would each own about 50 percent of the newly combined company, according to a joint statement announcing the deal. Linde shares dropped sharply on the news, falling almost 8 percent in Frankfurt trading. Linde is one of the largest welding, industrial, medical and specialty gas companies and the premier choice of manufacturers, engineers, scientists and procurement professionals. Multinational chemical company Linde AG and US rival Praxair, Inc have announced a $65bn merger of equals via an all-stock transaction.
0 kommentar(er)
