The Linde Acceptance ratio for the voluntary public takeover offer (exchange offer) of Linde plc (Praxair-Linde) to the shareholders of Linde AG has now reached a 90% threshold.
With this development, the $70bn mega merger of equals between Praxair, Inc. and The Linde Group moves ever nearer.
Having signed a definitive Business Combination Agreement for the merger on 1st June 2017, the ‘compelling and transformative opportunity’ has been awaiting various stages of approval since, including shareholder approval from both parties.
Praxair announced in late September that its shareholders had approved the business combination with Linde AG at a special meeting of shareholders, with approximately 83% of the total issued and outstanding shares of Praxair common stock voting to approve the business combination – exceeding the required vote of a majority of the issued and outstanding shares, and representing approximately 99% of the total votes cast.
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