Reuters logo
Linde supervisory board approves Praxair merger
June 1, 2017 / 5:00 PM / 6 months ago

Linde supervisory board approves Praxair merger

FRANKFURT, June 1 (Reuters) - Linde said its supervisory board voted on Thursday to approve the German industrial gases group’s $73 billion merger with U.S. peer Praxair.

The all-share merger of equals is intended to create a market leader that will overtake France’s Air Liquide, reuniting a global Linde group that was split by World War One a century ago.

Linde’s chairman, Wolfgang Reitzle, did not need to use his casting vote to get the deal approved by the supervisory board in the face of labour opposition, a source familiar with the matter said after a roughly 10-hour meeting.

The deal must still be approved by Praxair’s board and 75 percent of Praxair investors at a shareholder meeting. (Reporting by Georgina Prodhan; Editing by Sabine Wollrab)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below