Praxair Announces Satisfaction Of Final Conditions To Close Business Combination With Linde AG

DANBURY, Conn. — October 22, 2018 — Praxair Inc. today announced that the final closing conditions for the merger of equals between Praxair and Linde AG  were satisfied after the European Commission approved the buyer of Praxair’s divestment business in Europe and the Federal Trade Commission (FTC) provided merger clearance of the business combination in the United States.

The parties expect the transaction to close on October 31, 2018. Under the terms of an agreement with the FTC, neither Linde AG nor Praxair will integrate any of their commercial operations until certain U.S. based assets are divested.

The new Linde plc shares are expected to start trading on the New York Stock Exchange (NYSE) and the Frankfurt Stock Exchange under the ticker symbol “LIN”. Trading in shares of Praxair’s common stock is expected to be suspended on the NYSE as of close of business (New York time) on October 30, 2018, and Praxair’s common stock is expected to be delisted from the NYSE. Promptly following the closing, Praxair also intends to delist and deregister its three series of Euro-denominated notes, including its 1.50% Notes due 2020, 1.20% Notes due 2024 and 1.625% Notes due 2025, that are currently listed on the NYSE to suspend its reporting obligations under the Securities Exchange Act of 1934. Linde plc, as the new holding company of the combined group, will file reports under the Exchange Act following closing. The company intends to apply for listing of the bonds on an alternate securities exchange.

Posted October 22, 2018

Source: Praxair Inc.