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Germany: Linde chairman says he could use casting vote for Praxair merger

By  |  April 3, 2017

Tphe chairman of German industrial gases group Linde is prepared to use his casting vote to push through a $65 billion merger with US rival Praxair in the face of worker opposition, he told the Financial Times.

Linde’s labor representatives told Reuters last week they planned to vote against the deal, which they fear will entail significant job losses in Europe to achieve $1 billion in synergies, and a loss of influence over strategy.

Labor controls half the seats on the supervisory board, which will have to approve the deal once the terms are finalised in the next month or so – but Chairman Wolfgang Reitzle can cast a double vote in the case of a deadlock.

“Yes, I’m willing to do that,” he told the FT in a comment published on Monday.

Full Content: Financial Times

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