Praxair’s shareholders have voted to approve the merger with Linde AG at Praxair’s special meeting of shareholders today.
The approval is a milestone in the combination of the two companies in the global industrial gas industry under a new holding company named Linde plc.
Approximately 83% of the total issued and outstanding shares of Praxair common stock voted to approve the business combination, exceeding the required vote of a majority. It represented 99% of the total votes cast at the special meeting on the proposal.
The business combination remains subject to the satisfaction of all other transaction closing conditions, including achieving the minimum acceptance ratio of 75% in Linde plc’s exchange offer for Linde AG shares, and the receipt of all regulatory approvals and certain other customary closing conditions.
The business combination is expected to be completed in the second half of 2018.