MUNICH (dpa-AFX) - German industrial gases producer Linde Ag (LDE.L, LNAGF.PK) and Praxair Inc. (PX) said that they have reached an agreement in principle on the Business Combination Agreement which governs the envisaged merger of equals between the two companies.
The conclusion of the agreement and the execution of the transaction are in particular subject to the approval by the Board of Directors of Praxair as well as the Executive Board and the Supervisory Board of Linde.
Also after possible signing of a Business Combination Agreement there is no assurance that a transaction will be consummated.
The execution of the transaction will in particular be subject to its approval by the shareholders meeting of Praxair with the required majority, the acceptance of the holding company's public exchange offer by presumably a minimum of 75% of the outstanding Linde shares, clearance of the transaction by the competent regulatory authorities and the satisfaction of certain other conditions.
Copyright RTT News/dpa-AFX