Linde and Praxair’s $65 billion merger talks are facing legal complexities that mean the agreement will not be finalised as planned before Linde’s annual shareholder meeting on May 10, a source familiar with the situation said.
The all-share US-German merger of equals is intended to create a market leader that will overtake France’s Air Liquide and reunite a global Linde group split by World War One a century ago.
Adding to the complexities, the deal has met unexpectedly strong resistance from German trade unions who fear a dilution of their influence when the headquarters moves out of Germany and more profitable Praxair applies its operating practices worldwide.
A Linde spokesman said the two companies were still working towards finalizing the business combination agreement before the AGM, but could not rule out that it would be later.
Full Content: Reuters
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