Linde and Praxair said late on Monday, August 28, they were responding to a second request from the US Federal Trade Commission (FTC) regarding their planned US$74 billion merger and were in a pre-notification phase with the European Commission.
The German and US industrial gases groups said in a US regulatory filing they still expected the all-share merger of equals, which is subject to antitrust review in approximately 24 jurisdictions, to close in the second half of 2018.
“This is a typical step in review of a transaction of this size, and was expected,” Linde said of the second request from the FTC.
The deal will create a global leader to overtake France’s Air Liquide with a combined market value of US$74 billion, revenue of US$28.7 billion and 88,000 staff.
The two companies said they had submitted notifications to antitrust authorities in China, India and South Korea in mid-August, and planned to make formal filings in Brazil, Canada, Mexico and Russia in mid-September.
Full Content: L’Usine Digitale
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Google Faces DOJ Antitrust Trial, Publishers Watch Closely for Impact on Ad Market
Sep 9, 2024 by
CPI
India Moves to Challenge Big Tech Power in Digital Markets
Sep 9, 2024 by
CPI
US Tightens Grip on AI: New Reporting Rules for Developers and Cloud Providers
Sep 9, 2024 by
CPI
EU Court to Decide Apple’s €13bn Tax Battle
Sep 9, 2024 by
CPI
Google Lawyer Kevin Yingling Joins Freshfields Amid Antitrust Fight
Sep 9, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Canada & Mexico
Sep 3, 2024 by
CPI
Competitive Convergence: Mexico’s 30-Year Quest for Antitrust Parity with its Northern Neighbor
Sep 3, 2024 by
CPI
Competition and Digital Markets in North America: A Comparative Study of Antitrust Investigations in Mexico and the United States
Sep 3, 2024 by
CPI
Recent Antitrust Development in Mexico: COFECE’s Preliminary Report on Amazon and Mercado Libre
Sep 3, 2024 by
CPI
The Cost of Making COFECE Disappear
Sep 3, 2024 by
CPI