Linde's Merger With Praxair Reaches 90% Shareholder Acceptance

(RTTNews) - German industrial gas company Linde AG (LDE.L, LNAGF.PK) announced late Friday that 90% of its shares have been tendered by shareholders as part its planned merger of equals with Praxair Inc. (PX).

In a statement, the company said the acceptance ratio has reached the 90% threshold.

Shareholders had to accept a tender offer for at least 74% of Linde's outstanding shares by midnight November 24 in exchange for shares in holding company Linde PLC. On November 8, the company had exceeded the 74% threshold.

Linde PLC, a U.K.-based entity, could have been ed to U.S. taxation for below 74% acceptance threshold.

The business combination is subject to the receipt of all regulatory approvals.

In the event of the completion of the business combination, Linde plc could initiate a merger-related squeeze-out, the company noted.