German Economy Minister Brigitte Zypries urged German industrial gases group Linde on Wednesday not to force through a planned $73 billion merger with US peer Praxair against the will of German workers.
Linde’s supervisory board is due to vote on the merger on Thursday, and Chairman Wolfgang Reitzle has said he is prepared to use his casting vote in favour of the merger to break an expected tie between shareholder representatives for and worker representatives against the deal.
Like all German companies above a certain size, Linde’s board of directors has equal representation of labour and capital interests. Imposing such strategic decisions without the agreement of workers is rare.
“The proposed merger of Linde and Praxair requires the employees to accept it because a takeover cannot work well without the complete support of the workforce,” Zypries said in a statement.
She said she supported a call by Michael Vassiliadis, head of trade union IG BCE, for mediation, adding: “The aim of all participants should be to get a broad consensus. Every day without common communication damages the company and so jobs.”
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