Linde and Praxair agree to merger

FRANKFURT-the German company Linde AG and its American rival Praxair Inc. have reached an agreement on the cahve points to a merger on a stock exchange operation, which would create a group of industrial gas producer with a value of $65 billion.
According to the agreement, Linde''s shareholders and Praxair would be owners of about 50% of the combined company and its Chief Executive Officer would be in the United States.
The agreement is set after the Praxair offer reassurance to Linde on corporate and administration jobs, said sources. Previous negotiations between the companies failed in September, mainly due to the lack of consensus on these points.
The Linde and Praxair, along with rivals like Air Liquide SA and Air Products and Chemicals Inc., face problems in the face of slowing economic growth that reduced the demand of manufacturing industries, metals and energy, and pressing the smaller market agents, which led to a consolidation of the industrial gases industry.
"The operation will join the technological leadership of the Linde with the efficient operation of Praxair," the companies said in a statement, in which both claim seeking annual income around $1 billion from the merger.
The new company, which had combined ticket of $30 billion in 2015, will be listed on the stock exchanges of New York and Frankfurt.