linde praxair set to reveal 65 bn merger
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Linde, Praxair set to reveal $65 bn merger

Arab Today, arab today

Arab Today, arab today Linde, Praxair set to reveal $65 bn merger

German industrial gases maker Linde
Frankfurt am Main - AFP

German industrial gases maker Linde and US competitor Praxair are set to announce a $65-billion merger to create a global leader in the sector in the coming days, the Financial Times reported on Monday.

Linde and Praxair's previous attempt at a tie-up failed in September, but they are now expected to reveal preliminary merger terms "as early as Wednesday," people familiar with the talks told the FT.

The German firm said just two weeks ago that it was back at the table with Praxair.

A Linde spokesman refused to comment on "speculation" when contacted by AFP.

Combined, the two groups would overtake Linde's historic French rival, Air Liquide, as the global number one industrial gas supplier, with combined annual revenues of more than $30 billion (29 billion euros).

Praxair chief executive Steve Angel will be CEO of the combined firm, while Linde chairman Wolfgang Reitzle will retain that role, the sources told the FT.

The new company will be based in Connecticut but have its tax domicile in Europe.

Executive personnel and the site of the merged group's headquarters were vexed questions that helped scupper the deal the first time around, a source familiar with the discussions told AFP at the time.

Linde will also likely agree for its engineering unit -- which builds industrial plants for other firms -- to be spun off as part of the deal, the sources said.

Listing the engineering unit separately could calm fears of job losses among German worker representatives at Linde.

Changes in Linde's executive board since September -- including the departure of chief financial officer Georg Denoke, reportedly an opponent of the merger -- are also likely to smooth the path towards the tie-up.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

linde praxair set to reveal 65 bn merger linde praxair set to reveal 65 bn merger

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

linde praxair set to reveal 65 bn merger linde praxair set to reveal 65 bn merger

 



GMT 12:48 2016 Sunday ,27 November

Cilic, Dodig push Croatia to brink of Davis Cup

GMT 05:24 2017 Thursday ,28 December

Erdogan says 'terrorist' Assad cannot be part of Syria

GMT 12:59 2016 Saturday ,05 November

WB welcomes economic reforms in Egypt

GMT 18:40 2016 Saturday ,05 November

Egyptian GDRs in London down

GMT 10:57 2017 Wednesday ,06 December

Peru striker Guerrero has doping ban extended

GMT 17:51 2017 Tuesday ,07 March

Trump Signs New Travel Ban on Six Muslim Countries

GMT 10:30 2017 Wednesday ,06 September

Saudi Information Ministry praises media role during Hajj

GMT 15:29 2017 Tuesday ,24 January

Mind games really do help your brain

GMT 06:55 2015 Thursday ,01 October

Boston Red Sox beat Yankees

GMT 08:17 2017 Monday ,28 August

Bahrain celebrates World Humanitarian Day 2017

GMT 02:07 2017 Tuesday ,28 February

Opposition seeks Russian support at Syria talks
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday