Global businesses gain strong foothold
India has cleared the proposed business combination between Praxair, Inc. (NYSE: PX) and Linde AG (Xetra: LIN). Linde said on 7 Sept 2018 that it has received antitrust clearance in India subject to certain conditions, satisfying a closing condition (Regulatory Condition – India).
This was in accordance with the exchange offer document published on 15 August 2017.
Completion of the business combination remains subject to timely approval by requisite governmental regulators and authorities under applicable competition laws.
In the 2017 financial year, The Linde Group generated revenue of EUR 17.113 billion, making it one of the leading gases and engineering companies in the world, with approximately 58,000 employees working in more than 100 countries worldwide.
Praxair, Inc. is a leading industrial gas company in North and South America and one of the largest worldwide. With market capitalization of approximately US$40 billion and 2017 sales of US$11 billion, the company employs over 26,000 people globally and has been named to the Dow Jones® World Sustainability Index for 15 consecutive years.
Praxair produces, sells and distributes atmospheric, process and specialty gases, and high-performance surface coatings. fiinews.com