Industrial gas makers Linde, Praxair announce merger deal

Marco Green
June 3, 2017

Within the new company, Linde's Christian Bruch will lead engineering, Bernd Eulitz will lead the Europe, Middle East and Africa markets and Sanjiv Lamba will head the Asia-Pacific market, Angel said. It now has negative earnings. Institutional investors own 83.03% of the company's stock. Praxair, Inc. Praxair also saw unusually large options trading activity on Monday. Front Barnett Associates LLC boosted its position in shares of Praxair by 0.9% in the third quarter. Moreover, Cornerstone Advisors Inc has 0.58% invested in the company for 160,250 shares. The stock rose 0.69% or $0.91 reaching $133.2.

About 22,951 shares traded.

The 68-year-old, a highly sought-after executive in Germany who twice narrowly missed becoming CEO of luxury carmaker BMW, will become chairman of the merged company, while Praxair CEO Steve Angel will be chief executive. It has outperformed by 0.24% the S&P500. Therefore 17% are positive. Jefferies has "Buy" rating and $14000 target. They issued a "sell" rating and a $107.00 target price on the stock. Praxair had 26 analyst reports since August 12, 2015 according to SRatingsIntel. The firm has "Overweight" rating given on Friday, January 27 by JP Morgan. On Wednesday, October 7 the stock rating was maintained by Susquehanna with "Neutral". The stock has "Outperform" rating by CLSA on Tuesday, August 2. The firm has "Sell" rating by Zacks given on Wednesday, August 12. The firm earned "Neutral" rating on Saturday, January 7 by Bank of America. The firm has "Equal Weight" rating given on Monday, November 2 by Barclays Capital. Praxair Inc now has $37.64 billion valuation. (NYSE:PX) on Monday, April 18 with "Neutral" rating. The brokerage now has an "equal weight" rating on the basic materials company's stock.

Investors sentiment increased to 1.02 in Q4 2016. Its up 0.10, from 0.92 in 2016Q3.

Shares in Linde AG (LDE.L, LNAGF.PK) were gaining around 2 percent in German trading on Friday after the industrial gases producer's boards agreed a merger with USA peer Praxair Inc.

Edwards & Company Inc. raised its stake in Praxair, Inc. The company had a trading volume of 1,020,141 shares. Robshaw & Julian invested in 2.15% or 24,749 shares. Levin Capital Strategies Lp holds 0% of its portfolio in Praxair, Inc. Bb&T holds 0.02% or 6,619 shares in its portfolio. Pittenger Anderson accumulated 0.01% or 670 shares. Coho Partners Limited holds 1,759 shares. Shelter Retirement Plan reported 1.43% stake. Cornerstone Mgmt Ltd Company holds 61,723 shares.

Linde's shareholders will not vote on the deal but 75 per cent must tender their shares to the new company for the deal to go through. Bp Pcl stated it has 35,000 shares. Kanawha Management Ltd Liability reported 2,210 shares. Rockefeller Svcs holds 2,740 shares or 0.01% of its portfolio. Bryn Mawr Tru holds 13,594 shares or 0.1% of its portfolio. (NYSE:PX) for 20,020 shares. Citigroup maintained Praxair, Inc. (NYSE:PX) to release earnings on July, 27. Lombard Odier & Cie Canada Limited Partnership now owns 11,300 shares of the basic materials company's stock worth $1,364,000 after buying an additional 100 shares in the last quarter. This translates into $407.39 million profit for PX giving the stock a 23.44 P/E.

This merger is a once-in-a-lifetime opportunity to form a great global industrial gas company poised to deliver value for customers, employees and shareholders alike. The company has market cap of $38.84 billion.

The deal combines U.S. firm Praxair's operational efficiency and strength in the Americas with the leading technology of Germany's Linde and its strong presence in Europe and Asia, overtaking main competitor France's Air Liquide. In addition, it operates its surface technologies business through its subsidiary, Praxair Surface Technologies, Inc, which represents the fifth segment.

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