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...
Praxair is an industrial gas company in North and South America. The company's operations consist of two main product lines: industrial gases and surface technologies. The industrial gases product line centers on the manufacturing and distribution of atmospheric gases (oxygen, nitrogen, argon, rare gases) and process gases (carbon dioxide, helium, hydrogen, electronic gases, specialty gases, acetylene). The company's surface technologies segment supplies wear-resistant and high-temperature corrosion-resistant metallic and ceramic coatings and powders. The company's subsidiary, Praxair Surface Technologies, supplies wear-resistant and high-temperature corrosion-resistant metallic and ceramic coatings and powders.
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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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