Praxair, Inc. and The Linde Group have announced agreement on a non-binding term sheet governing the essential terms of a merger of equals between the two companies.
The term sheet provides for a combination of the group’s business under a publicly traded new holding company bearing Linde’s name.
Though both parties caution there is no assurance that a binding definitive agreement on the combination will be reached or that a transaction will be consummated, Praxair notes in its statement that the two companies ‘expect to execute a definitive Business Combination Agreement as soon as practicable’.
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