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US: Linde, Praxair choose bidders for antitrust clearance sale

By  |  April 12, 2018

According to Reuters’ sources, gases groups Linde and Praxair have picked second-round bidders for a package of planned divestitures to facilitate their planned US$79 billion merger,

The companies have invited buyout firm CVC, which has tied up with gases group Messer, to make further bids, as well as private equity investors Carlyle, Onex, Blackstone, the sources said, adding that the investors are expected to bid for all assets on offer.

Linde and Praxair have put a package of US-based assets up for sale. In a bid to appeal to regulators and to attract a broad range of suitors, the European assets have been split into two alternative bundles, only one of which would be sold, the sources said.

Japan’s Taiyo Nippon Sanso is also still in the auction and expected to bid for the European operations, while the Canada Pension Plan Investment Board is expected to join a bidder as a co-investor, Reuters reported.

Full Content: Reuters

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