US Praxair shareholders approve combination with German Linde

Linde plc has announced the satisfaction of a closing condition (the Praxair Requisite Vote Condition) to the proposed business combination between Praxair Inc and Linde AG. Linde plc is a newly incorporated public limited company, formed on April 18, 2017, that will become the parent company of Praxair and Linde AG upon the completion of the business combination.
Praxair’s shareholders approved the business combination of Praxair with Linde AG at Praxair’s special meeting of shareholders. Praxair announced that approximately 83% of the total issued and outstanding shares of Praxair common stock voted to approve the business combination, exceeding the required vote of a majority of the issued and outstanding shares, and representing approximately 99% of the total votes cast at the special meeting on this proposal.
The business combination remains subject to the satisfaction of all other transaction closing conditions, including achieving the minimum acceptance ratio of 75% in Linde plc’s exchange offer for Linde AG shares, and the receipt of all regulatory approvals and certain other customary closing conditions. The acceptance period for Linde plc’s exchange offer will expire on October 24, 2017 at 24:00 hours (midnight) (Central European Time), unless extended. The business combination is expected to be completed in the second half of 2018.