Wed, Sep. 28, 8:03 AM
- Praxair (NYSE:PX) CEO Steve Angel is still open to a merger with Linde (OTCPK:LNAGF) even after talks collapsed earlier this month, according to Bernstein analyst Jeremy Redenius, sending Linde shares sharply higher in Frankfurt trading.
- PX thinks Linde needed to sort out some internal issues before continuing with a merger and does not see irreconcilable differences, Redenius writes.
- Potential job losses in Munich reportedly one of the sticking points in the merger talks, and Redenius says PX insists the combined company’s headquarters would have to remain in the U.S.
Tue, Aug. 16, 3:15 PM
- Analysts say a merger of industrial gas makers Praxair (PX +3%) and Linde (OTCPK:LNAGF) likely would trigger antitrust reviews to protect competition in regional markets as well as broader scrutiny of global competition.
- The two companies, which confirmed today that they are in merger talks, have discussed potential divestitures to address antitrust concerns, which could include selling gas production operations in local markets, Bloomberg reports.
- The U.S. FTC cleared Air Liquide's takeover Airgas in May after the companies agreed to sell businesses that produce certain industrial gases; the investigation focused on specific regions around the U.S. rather than a national market, in part because industrial gases cannot be transported more than a few hundred miles.
- Analysts say the biggest competition issues might arise in South America, particularly Brazil, where a combined Praxair-Linde might have a market share upwards of 60%.
Mon, Aug. 15, 6:50 PM
- Praxair (NYSE:PX) +3.3% AH following a Dow Jones report that it has held merger talks with Germany's Linde (OTCPK:LNAGF), in a deal that would create the world’s largest industrial gas supplier with more than $30B in annual revenue.
- The report comes less than three months after Air Liquide bought Airgas for ~$10B, perhaps setting off a wave of consolidation in an industry hit by declining energy prices and sluggish economic growth.
Sep. 15, 2015, 7:58 AM
- Praxair (NYSE:PX) agrees to acquire carbon dioxide and dry ice assets from Norwegian fertilizer supplier Yara International (OTCPK:YARIY) for €312M ($353M) to expand its activities serving the food and beverage sector in Europe.
- PX says the acquisition is part of its effort to expand in regions where it can gain cost savings as well as “enhancing our presence in non-cyclical segments such as food and beverage."
- Yara’s European carbon dioxide unit operates three CO2 ships, seven terminals, six dry ice production facilities and five CO2 liquefaction plans; Yara will continue to operate three of the liquefaction plants.
May 29, 2013, 3:46 PM
Praxair (PX -0.5%) says its subsidiary, Praxair Offshore Services, has acquired Scotland-based Dominion Technology Gases Investment Limited, a global supplier of diving, welding, industrial, laboratory and calibration gases and associated equipment to the offshore oil and gas industry. Financial terms of the deal weren't disclosed.| May 29, 2013, 3:46 PM
Feb. 5, 2013, 7:59 AM
Praxair (PX) continues its shopping spree, agreeing to acquire beverage carbonator NuCO2 from P-E firm Aurora Capital Group for $1.1B in cash. NuCO2, which sells its products to quick-service restaurants and convenience stores that offer fountain beverages, expects 2013 revenues of $250M and EBITDA of $115M. The deal adds to Praxair's recent acquisitions of Oxygen and PortaGas. (PR)| Feb. 5, 2013, 7:59 AM
Dec. 13, 2012, 12:43 PM
Praxair (PX +1.2%) agrees to acquire PortaGas, a producer of portable cylinder gases for the specialty gases market, for an undisclosed amount. PortaGas supplies a variety of calibration gases used in industrial hygiene and safety applications, and has developed unique, recyclable cylinders as an alternative to disposable cylinders.| Dec. 13, 2012, 12:43 PM
Jun. 29, 2012, 6:13 PM
Praxair Canada, a subsidiary of Praxair (PX), acquires Canadian Cylinder & Gases, an independent distributor of industrial and specialty gases and welding equipment located in Prince George, British Columbia. Financial terms were not disclosed.| Jun. 29, 2012, 6:13 PM
Feb. 1, 2012, 2:43 PM
Dec. 23, 2011, 9:09 AM
Praxair (PX) works out an agreement to acquire one of its long-time distributers - Texas Welders Supply - for an undisclosed amount in a deal expected to close by year-end.| Dec. 23, 2011, 9:09 AM