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Linde reaches important acceptance level for Praxair merger

Published 11/08/2017, 09:28 AM
Updated 11/08/2017, 09:30 AM
© Reuters. Linde Group logo is seen at company building before the annual news conference in Munich
Praxair Inc
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FRANKFURT (Reuters) - Industrial gases group Linde has exceeded an important 74 percent approval threshold for its planned $80 billion tie-up with Praxair (NYSE:PX), it said on Wednesday.

As a consequence, it is anticipated that the right of both companies to terminate the deal will cease, Linde added.

Reaching the threshold was seen as crucial to avoid making the deal unattractive for tax reasons.

© Reuters. Linde Group logo is seen at company building before the annual news conference in Munich

Shareholders still have until Nov. 21 to tender their shares.

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