Linde : U.S. FTC Demands More Divestitures In Praxair Deal

(RTTNews) - Linde AG (LDE.L, LNAGF.PK) said that discussions with various antitrust authorities have resulted in further indications that merger clearances of the business combination of Linde and Praxair Inc. (PX) could be subject to requirements more onerous than previously expected.

Linde was informed today that the U.S. Federal Trade Commission or "FTC" expressed expectations with regards to further divestiture commitments and prospective purchasers which are considered required for a merger clearance. Linde and Praxair are analysing these expectations to assess their scope and to evaluate how they could be implemented to achieve a timely clearance of the business combination. The discussions with the FTC about the divestiture commitments will be continued in order to achieve a mutually acceptable result.

Based on ongoing discussions with the FTC and other antitrust authorities and current knowledge, there is in addition a higher probability that a threshold for divestiture commitments, which is to be accepted by each contract party under the Business Combination Agreement, will be exceeded.

Linde and Praxair remain in a constructive dialogue with the regulators and with each other on the required divestitures.