{"id":8119,"date":"2016-12-23T20:58:08","date_gmt":"2016-12-23T20:58:08","guid":{"rendered":"https:\/\/staging.asminternational.org\/hts-new\/results\/-\/journal_content\/56\/10192\/27070593\/NEWS\/"},"modified":"2023-02-07T04:48:08","modified_gmt":"2023-02-07T04:48:08","slug":"linde-and-praxair-announce-intention-to-merge","status":"publish","type":"post","link":"https:\/\/www.asminternational.org\/hts\/linde-and-praxair-announce-intention-to-merge\/","title":{"rendered":"Linde and Praxair announce intention to merge"},"content":{"rendered":"

\n\tLinde AG, Germany, and Praxair Inc., Danbury, Conn., announce that the companies intend to combine in a merger of equals that 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 have 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.<\/p>\n

\n\tThe 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, prior to any divestitures, and a current market value in excess of $65 billion.<\/p>\n

\n\tUnder the proposed merger, existing Linde and Praxair shareholders would each own about 50% of the combined company, and its chief executive would be based in the United States.<\/p>\n

\n\tChairman and CEO of Praxair, Steve Angel, will become CEO, while Linde’s supervisory board Chairman, Wolfgang Reitzle, will take the role of chairman of the new group.<\/p>\n

\n\t“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”<\/span><\/p>\n

\n\t“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.”<\/p>\n

\n\t“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,” says Professor Dr. Aldo Belloni, CEO of Linde.<\/p>\n

\n\twww.praxair.com<\/a>.<\/span><\/p>\n

\n\twww.linde.com<\/a><\/p>\n

\n\t <\/p>\n","protected":false},"excerpt":{"rendered":"

Linde AG, Germany, and Praxair Inc., Danbury, Conn., announce that the companies intend to combine in a merger of equals that would bring together two leading companies in the global industrial gas industry, leveraging the proven strengths of each.<\/p>\n","protected":false},"author":63082,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[439,440,441,1],"tags":[],"class_list":["post-8119","post","type-post","status-publish","format-standard","hentry","category-general","category-news","category-news-articles","category-uncategorized"],"yoast_head":"\nLinde and Praxair announce intention to merge - Heat Treating Society<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.asminternational.org\/hts\/results\/-\/journal_content\/56\/10192\/27070593\/NEWS\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Linde and Praxair announce intention to merge - 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