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Praxair says pain threshold for merger disposals $3.7 billion sales
June 2, 2017 / 2:26 PM / 6 months ago

Praxair says pain threshold for merger disposals $3.7 billion sales

FRANKFURT (Reuters) - Industrial gases groups Praxair (PX.N) and Linde (LING.DE) have agreed a limit to the volume of disposals they are prepared to make to satisfy anti-trust regulators as they seek to merge their companies, Praxair told analysts on a call on Friday.

Praxair Chief Executive Officer Steve Angel (R-L), Linde Chairman of the Board Wolfgang Reitzle and Linde CEO Aldo Belloni arrive for a news conference in Munich, Germany June 2, 2017. REUTERS/Michaela Rehle

They are prepared to divest assets with up to $3.7 billion (£2.8 billion) in total sales or $1.1 billion in combined core earnings (EBITDA) but above those levels either party could walk away or seek to renegotiate the merger agreement.

Reporting by Georgina Prodhan; Editing by Maria Sheahan

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