Plus   Neg

Linde Confirms Advanced Talks On Sale Of Parts Of Its Americas Gases Business

German gas and engineering company Linde AG (LDE.L,LNAGF.PK) said that the company and Praxair, Inc. (PX) are in advanced negotiations with a consortium comprising Messer Group GmbH and funds advised by CVC regarding the sale of the majority of Linde's gases business in North America as well as certain Linde and Praxair assets in South America.

Linde noted that any execution of the agreement would still be subject to the approval of the competent boards of the contracting parties.

Linde and Praxair consider the divestiture of such business to be necessary in order to allow merger clearance of their proposed business combination by the relevant competition agencies.

In the event of an execution of the agreement, the sale would still be subject to the completion of the proposed business combination of Linde and Praxair as well as regulatory approvals.

For comments and feedback contact: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Following the sell-off seen in the previous session, stocks showed another significant move to the downside during trading on Tuesday. With the continued drop, the tech-heavy Nasdaq fell to its lowest closing level in over seven months. A federal judge in San Francisco has temporarily blocked President Donald Trump's plan to restrict asylum claims by illegal immigrants. In a ruling issued late Monday, U.S. District Court Judge Jon Tigar accused the Trump administration of trying to rewrite immigration laws. Bank of England Governor Mark Carney welcomed the draft Brexit deal and the transition arrangement that the British Prime Minister Theresa May struck with the European Union last week, but warned that the risks of a "no-deal, no-transition" scenario remained very high. Speaking at a Treasury Select Committee hearing, Carney said, "We welcome the transition arrangements in the withdrawal deal."
Follow RTT