June 23, 2017 / 12:33 PM / 3 months ago

Linde to terminate ADRs due to Praxair merger

The Praxair logo is seen during a news conference with Linde in Munich, Germany, June 2, 2017. REUTERS/Michaela Rehle

FRANKFURT (Reuters) - German industrial gases group Linde (LING.DE) will terminate its American depository receipt program on Sept. 29 due to its planned $74 billion merger with U.S. peer Praxair (PX.N), it said on Friday.

“ADRs are not subject to the public offer to exchange Linde shares for shares in the new holding company, therefore ADR holders must exchange their ADRs for Linde shares in order to participate in the exchange offer,” it said.

Linde and Praxair plan to list shares in the new combined company in both New York and Frankfurt.

Reporting by Georgina Prodhan; Editing by Maria Sheahan

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