iopfest.blogg.se - Praxair linde merger latest news

Praxair linde merger latest news full#
Praxair linde merger latest news plus#

Praxair linde merger latest news plus#

In economic terms, the proposed dividend comprises a distribution for the 2017 financial year of EUR 3.90 (2016: EUR 3.70) per Linde share plus a distribution of the expected dividend relating to three quarters of the 2018 financial year of EUR 3.10 per Linde share. The Executive Board and Supervisory Board will propose a resolution at the Annual General Meeting that a dividend of EUR 7.00 per share be paid. Our proposed merger with Praxair remains on schedule," said Professor Dr Aldo Belloni, Chief Executive Officer of Linde AG.

Praxair linde merger latest news full#

We met our targets in full and achieved increases in revenue and earnings after adjusting for exchange rate effects. Linde is making more rapid progress with its LIFT efficiency programme than planned.

The main factors contributing to this performance were continuing positive trends in the EMEA and Asia/Pacific segments and in the Engineering Division. Munich, 8 March 2018 - The technology company The Linde Group delivered a solid performance in the 2017 financial year, achieving increases in both Group revenue and Group operating profit after adjusting for exchange rate effects.

Completion of merger with Praxair still planned for the second half of 2018.

Group outlook for 2018 3: Revenue expected to be similar to that generated in 2017 or to increase by up to 4 percent operating profit expected to rise by up to 5 percent.

ROCE 1: 10.2 percent increase of 80 basis points.

Group margin: 24.6 percent increase of 40 basis points.

Group operating profit 1,2: EUR 4.213 bn up 4.1 percent after adjusting for exchange rate effects.

Group revenue 1: EUR 17.113 bn up 2.1 percent after adjusting for exchange rate effects.

When initiating a phase II investigation, the European Commission, in principle, decides within a period of 90 business days on the approval of the business combination,” Linde says, adding that a phase II investigation is not uncommon in large and complex transactions.Safety, health, environment and quality (SHEQ) Therefore, the merger partners expect that the European Commission will initiate an in-depth investigation (phase II).

“In the course of the antitrust proceedings in the European Union, Linde and Praxair will not submit final commitments to the European Commission in this first investigation phase (phase I).

The merger agreement allows either party to terminate the deal if divestitures exceeding €1.1 billion/year ($1.4-billion) in EBITDA or €3.7 billion/year in revenue are required by regulators. However, revenue and earnings of the required divestitures are not expected exceed a threshold that could result in termination of the deal. “Discussions with various antitrust authorities have resulted in indications that merger clearance of the business combination of Linde and Praxair will be subject to requirements more onerous than previously assumed,” Linde said in a statement. Linde said today that antitrust regulators are asking for more significant divestments than initially expected to get the $80 billion merger with Praxair approved.