TELETRADER News
10/22/2018, 3:40 PM (Source: TeleTrader)
more TeleTrader news

Linde to divest of more for merger with Praxair – FTC

The $80 billion integration of Linde AG and Praxair Inc. would be anticompetitive unless the former sells assets in nine markets for industrial gases in the United States, the Federal Trade Commission said on Monday. The conditional clearance announcement notes the merger of the German industrial gas giant with smaller competitor from Danbury, Connecticut, would form the largest global producer in the field, making "collusion or coordinated action" by others more likely.

Messer Group GmbH will join CVC Capital Partners Ltd. in a venture or another approved buyer must buy Linde's US bulk liquid oxygen, nitrogen, and argon business. The package includes source contracts equal to all of Praxair's helium source contract volume, but without the divestments ordered by the European Commission and China. Linde needs to exit excimer laser gas operations and North American liquid hydrogen.

Matheson Tri-Gas Inc. is set to buy five on-site hydrogen and on-site carbon monoxide (HyCO) units outside the Gulf Coast and the hydrogen pipeline in the Gulf Coast. The Clear Lake, Texas, plant is to be bought by Celanese Corp. and the one in La Porte, Texas, by LyondellBasell Industries NV.

Breaking the News / IT