20-12-2016
Linde and Praxair announce intention to merge
Linde AG and Praxair, Inc, today announced that the companies intend to combine in a merger of equals under a new holding company through an all-stock transaction. The companies have signed a non-binding term sheet and expect to execute a definitive Business Combination Agreement as soon as practicable. Based on 2015 reported results, the combination would create a company with pro forma revenues of approximately $30 billion (EUR 28 billion), prior to any divestitures, and a current market value in excess of $65 billion (EUR 61 billion).
The proposed merger would bring together two leading companies in the global industrial gas industry, leveraging the proven strengths of each. The transaction would unite Linde’s long-held leadership in technology with Praxair’s efficient operating model, creating a global leader. The combined company would enjoy strong positions in all key geographies and end markets and create a more diverse and balanced global portfolio. Additionally, it would enable the development and delivery of more innovative products and services to customers.
"The strategic combination between Linde and Praxair would leverage the complementary strengths of each across a larger global footprint and create a more resilient portfolio with increased exposure to long-term macro growth trends," said Steve Angel, Praxair’s Chairman and CEO. "We consider this to be a true strategic merger, as it brings together the capabilities, talented people and best-in-class processes of both companies, creating a unique and compelling opportunity for all of our stakeholders."
"Under the Linde brand, we want to combine our companies’ business and technology capabilities and form a global industrial gas leader. Beyond the strategic fit, the compelling, value-creating combination would achieve a robust balance sheet and cash flow and generate financial flexibility to invest in our future," said Professor Dr. Aldo Belloni, CEO of Linde.
For more information, please visit: www.linde-engineering.com
Sponsor:
News Category:
-
Linde starts up new plant to supply Evonik complex in Singapore
Linde announced today it has started up a new gas production facility supplying methane, hydrogen and carbon dioxide to Evonik Industries' second world-scale methionine ...
01-08-2019
-
Mitsubishi Chemical and Linde Engineering announce transfer of HDA technology
The Engineering Division of The Linde Group (Linde) and Mitsubishi Chemical Corporation (MCC) have concluded a definite agreement for transfer of MCC’s Hydrodealkylation ...
01-03-2018
-
Linde to supply modular hydrogen manufacturing unit for St1 Refinery
Technology company The Linde Group has been awarded with the engineering and supply of a modular hydrogen manufacturing unit for St1 Refinery in Gothenburg, Sweden. Linde’s ...
17-08-2017
-
Linde Engineering appoint Carlos Conerly and Arturo Puigbo to executive positions
Linde Engineering North America (LENA) announces Carlos Conerly has joined LENA as President of the Natural Gas and Refining Division and Arturo Puigbo has joined as ...
13-07-2017
-
Braskem award EPC contract to Linde
Technology company The Linde Group has been selected by Braskem, the largest thermoplastics resins producer in the Americas, as the lead engineering, procurement, and ...
11-07-2017
-
Linde Engineering adds STANDARD-GSP plant to natural gas portfolio
Linde Engineering North America (LENA) announces product expansion with the new standardized GSP (Gas Subcooled Process) plant. According to company officials, the ...
20-06-2017
-
Linde wins major contract for olefin plant in Russia
Technology company The Linde Group has been awarded a major contract by PJSC Nizhnekamskneftekhim (NKNK) to supply an olefin plant in the city of Nizhnekamsk, located ...
06-06-2017
-
Gazprom and Linde expanding cooperation in oil and gas sector
A working meeting between Alexey Miller Chairman of the Gazprom Management Committee, and Aldo Belloni, Chief Executive Officer of Linde, took place at the ...
14-02-2017
-
Linde awarded major contract for LNG plant in Russia
The technology company The Linde Group has recently been selected by Gazprom and Project EPC contractor SRDI Oil & Gas Peton as the licenser for a mid-scale liquefied ...
07-02-2017
-
Linde Engineering North America appoint Jason Cooper as President and CEO
Mr. Cooper has 22 years of experience at the domestic and international level in both owner/operator and engineering, procurement and construction (EPC) corporate environments. ...
17-01-2017