Praxair-CEO Steve Angel (L) and Linde-CEO Aldo Belloni attend a press conference in Munich, Germany. (picture alliance/Sven Hoppe/dpa/archive)
The merger of the German gas manufacturer and plant constructor Linde with the US industrial gas producer Praxair has taken a step closer to completion. The DAX-listed company has announced in Munichth at the Chinese antitrust authority (SAMR) has approved the merger. The specialist news service Deal reporter had previously reported on the decision.
The completion of the merger is still subject to the timely receipt of the necessary regulatory approvals and clearances from South Korea and the United States as well as the pending buyer approval by the European Commission.
According to the Securities Act, themerger must be completed by October 24 at the latest. Linde and Praxair plan to merge to form the largest industrial gas producer in the world. With 80,000 employees and an annual turnover of around 28 billion euros, they would dominate a quarter of the world market.
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