Praxair and Linde to Combine in All-Stock Merger to Create Industrial Gas Leader
We expect to raise our Praxair fair value estimate to $123 from $118 and maintain our Linde fair value estimate at EUR 160 to reflect the Dec. 20 announcement that the two industrial gas majors will merge in an all-stock transaction currently valued at over $65 billion.The shares of both companies fell 2%-3% upon announcement of the deal, probably reflecting the anticipation of an agreement. Both stocks rose in recent months as a potential merger has been discussed publicly since September, wit...
Air Products and Chemicals serves customers globally with a portfolio of products, services, and solutions that include atmospheric gases, process and other gases, equipment, and services. The company is a supplier of hydrogen and is engaged in helium and liquefied natural gas (LNG) process technology and equipment. The company also develops, engineers, builds, owns and operates industrial gas projects, including gasification projects that convert abundant natural resources into syngas for the production of power, fuels and chemicals. The company designs and manufactures equipment for air separation, hydrocarbon recovery and purification, LNG, and liquid helium and liquid hydrogen transport and storage.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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