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...
Linde is a gases and engineering company based in Germany. Co. operates through two divisions. The Gases division provides a range of compressed and liquefied gases as well as chemicals. Co.'s gases are used in the energy sector, in steel production, chemical processing, environmental protection, and welding, as well as in food processing, glass production and electronics. The Engineering division is engaged in industrial plants construction globally, focusing on market segments such as plants for the production of hydrogen and synthesis gas, air separation and olefins as well as plants for natural gas treatment.
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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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