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Linde reaches important acceptance level for Praxair merger

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11/08/2017 | 03:28pm CEST
The Praxair logo is seen during a news conference in Munich

FRANKFURT (Reuters) - Industrial gases group Linde has exceeded an important 74 percent approval threshold for its planned $80 billion tie-up with Praxair, it said on Wednesday.

As a consequence, it is anticipated that the right of both companies to terminate the deal will cease, Linde added.

Reaching the threshold was seen as crucial to avoid making the deal unattractive for tax reasons.

Shareholders still have until Nov. 21 to tender their shares.

(Reporting by Arno Schuetze; Editing by Ludwig Burger)

Stocks mentioned in the article
ChangeLast1st jan.
PRAXAIR 0.14% 167.04 Delayed Quote.7.84%
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