Linde approves USD73 billion mega merger with Praxair

Sun Capital Partners

A mega deal has been struck in the industrial gas sector as the Linde supervisory board has finally approved the company’s merger with Praxair merger.

The all-share merger of equals is intended to create a market leader that will overtake France’s Air Liquide (AIRP.PA), 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 labor 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.

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