Linde, Praxair agree to $73b merger

German chemicals giant Linde and its US rival Praxair have finally agreed to a $73 billion merger.

Linde Bangladesh confirmed the deal in a posting on Dhaka Stock Exchange website yesterday.

“The proposed business combination of Linde and Praxair is expected to create significant synergies,” said Linde, adding that there are no plans to bring any changes in its course of business in the country.

Linde shareholders will be offered 1.54 shares in the new company for every Linde share they hold, while Praxair shareholders will be offered one for one -- leading to a roughly 50:50 ownership split, according to the deal.

Wolfgang Reitzle, Linde chairman and a veteran dealmaker, is considered the mastermind behind the deal.

Reitzle, 68, was the architect of Linde's $10 billion deal to take over British BOC in 2006 and re-engineered the $50 billion Lafarge-Holcim building materials merger in 2015. He will be the chairman of the merged company.

Last trading price of each Linde Bangladesh share was Tk 1,290 on the Dhaka bourse yesterday.