PX P10 Inc

   By Matthias Goldschmidt 
 

German industrial gas company Linde AG (LIN.XE) can't rule out the possibility of lowering the minimum shareholder acceptance level for its planned merger with Praxair Inc. (PX), business magazine Euro reported Tuesday.

"We do not expect that this will be necessary," Linde Chief Executive Aldo Belloni told Euro. "But if it were, we would speak to Praxair about it."

Linde plans to create the world's largest industrial-gas maker through a merger with U.S.-based competitor Praxair. Starting August 15, Linde began offering its shareholders stocks in holding company Linde plc in exchange for Linde shares. The deadline for converting shares is October 24. As of Tuesday afternoon, the acceptance rate was 5.99%, far below the 75% acceptance rate set for the merger.

Mr. Belloni said that the current acceptance rate was the "most immediate hurdle" to the merger but said that Linde was satisfied for the moment.

"As is usual for a share trade offer like this, the majority of the shares will be traded at the last minute," he said.

Write to Matthias Goldschmidt at matthias.goldschmidt@dowjones.com

(END) Dow Jones Newswires

September 19, 2017 10:59 ET (14:59 GMT)

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