Frankfurt, The US industrial gases producer Praxair takes an Insider, according to a new start-up to merger with German rival Linde. The Americans would have appealed in the past week, again in the Munich-based company and relief requested, enter into negotiations, said the situation Person familiar with the Reuters news Agency. The Insider said that Linde had not so far responded to the initiative.
The discussions on the mega merger had burst in September, surprisingly, because both sides could not agree on key issues, such as the company’s headquarters, development sites and Management personnel.
the push by The Americans for Linde untimely. CEO Wolfgang Büchele announced after the Failure of the merger to its withdrawal. He wants to assign at the end of April, Linde has prescribed but previously a tough austerity course. The group aims to reduce annual costs by 2019, around 550 million euros. According to experts, this could cost 3000 to 4000.
Linde wants a merger back to the top
A re-turn, the employee could annoy representatives on the Supervisory Board. Another Insider said a resumption of talks would only be conceivable if Praxair gave up his hard stance to the disputed points.
Linde wanted to gases due to the merger back to the top in the market industry. The Munich-based goods through the Acquisition of Airgas by the French company Air Liquide in place slipped. The gases industry is globally consolidated. After a merger of Praxiar and Linde are only three major suppliers would remain. A sticking point would be at such a step, therefore, the approval of the competition authorities.
The world’s largest industrial gases companies
Praxair and Linde were on the stock market of almost the same value, as the merger plans in the summer had become noised. Since then, Praxair has developed-share better than the Linde paper. Praxair comes at a market value of nearly $ 34 billion (€31.8 billion), Linde to 27.9 billion euros. The Americans are almost ten billion euros in turnover, only half as big as Linde, Praxair, however, is much more profitable. On the New York stock exchange, Praxair increased on Tuesday just under two per cent, Linde won in Frankfurt’s late trading 3.7 percent.
porter had given the end of October, that the Failure of the merger to be the Central trigger for his departure. “It was my Vision to create the number 1 on the Merger. Now this is a different game, and that is not my priority,” he said. According to insiders the chief financial officer Georg Denoke had worked behind the Scenes against the merger with Praxair. He had to go.