The combined group is expected to achieve annual synergies and cost savings (including savings from ongoing cost saving programmes, in particular from the Linde LIFT programme) of approximately EUR 1.1 billion, which are targeted to be achieved within three years following the completion of the business combination.With a more diverse and balanced global portfolio, the new Linde group will be in a position to better leverage long-term growth trends.
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The combined group is expected to have combined pro forma revenues of approximately EUR 27 billion, prior to adjustments, potential divestitures and regulatory limitations, based on Linde's and Praxair's published annual results for 2016, and a strong presence in all regions and end markets. The business combination brings together two leading companies with unique and complementary strengths.The business combination unites Linde’s longstanding leadership in engineering and technology and Praxair's operational excellence, creating a leading group in the global industrial gas industry.The Executive Board and the majority in the Supervisory Board believe that the business combination provides significant advantages and opportunities to both companies and their employees. In the reasoned statement, the Executive Board and the Supervisory Board come to the conclusion that the offer consideration is appropriate. Against this background, the entire Executive Board and the majority in the Supervisory Board recommend to the Linde shareholders to accept the exchange offer in order to participate in the new group which is combined under Linde plc. The Executive Board and the majority in the Supervisory Board are of the opinion that the business combination is in the best interests of Linde AG, its shareholders and other stakeholders.
Munich, 21 August 2017 - Today, the Executive Board and the Supervisory Board of Linde AG published a joint reasoned statement regarding the exchange offer by Linde plc dated 15 August 2017. Cracking furnaces for ethylene productionįired heaters, specialty cracking furnaces and DRI furnaces
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