German helium supplier Linde and U.S.-based Praxair have unveiled plans to merge through an all-stock transaction.
The new entity would have estimated pro forma revenues of approximately $30 billion U.S. (28 billion euros) and a current market value of more than $65 billion (61 billion euros), according to the two companies.
The new public company would carry the name Linde, with listings on both the New York Stock Exchange and Frankfurt Stock Exchange.
Under the proposal, Linde shareholders would receive 1.54 shares in the new holding company for each Linde share. Praxair shareholders would receive one share in the new holding company for each Praxair share, resulting in approximately 50% ownership in the new holding company.
The transaction is subject to regulatory approvals and other customary closing conditions.
