2-6-18 9:55 AM EST | Email Article
   By Euan Conley 
 

Linde AG (LINU.XE) said Tuesday that it expects the European Commission to start an in-depth investigation into its planned merger with U.S. peer Praxair (PX).

The German industrial gases company said that merger clearance will be subject to "requirements more onerous than previously assumed" following discussions with various antitrust authorities.

Thresholds for revenue and earnings before interest, taxes, depreciation and amortization agreed between the two companies in the business-combination agreement, up to which certain divestment commitments must be accepted, have not been exceeded, Linde added.

A merger between Linde and its American competitor was accepted by the companies' boards in June and the new company would have a combined market value of $66.6 billion, making it the world's largest industrial-gas maker.

Linde said that both parties remain convinced of the merits of the merger and will continue to talk with antitrust authorities to complete the deal in the second half of 2018.

 

Write to Euan Conley at euan.conley@dowjones.com

 

(END) Dow Jones Newswires

February 06, 2018 09:55 ET (14:55 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
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