Linde and Praxair have received conditional approval from the U.S. Federal Trade Commission (FTC). All regulatory conditions have been satisfied. Linde and Praxair announced their intend to combine in a merger of equals under a new holding company called Linde in 2016. In August, Linde was informed that the merger requires the sale of parts of the company. The parties expect the transaction to close on October 31, 2018.
The necessary divestments in the United States include the sale of all of Linde’s US bulk business as well as the sale of certain carbon monoxide, hydrogen, and steam methane reforming businesses. Linde is obliged to complete the divestments by 29 January 2019. Till then, Linde and Praxair are obliged to continue to operate their businesses globally as separate and independent companies.
Following the antitrust approval from the FTC and the buyer-approval of the sale of the majority of the European gases business of Praxair to the Japanese industrial gases manufacturer Taiyo Nippon Sanso Corporation, all conditions for the completion of the business combination are satisfied. Linde had already announced in July to sell its bulk business in the US to the German gas company Messer.
The merger will make them the world’s largest manufacturer of industrial gases such as oxygen and helium. The company will be managed from the Praxair’s headquarters in Danbury, Connecticut, USA. New headquarters will be Dublin, Ireland.
Also of Interest
- New Challenges for Linde and Praxair Merger,
ChemistryViews.org 6 August 2018.
Increased requirements for the merger clearances are likely to exceed a threshold previously agreed between the companies