Linde Shares Bounce On Report Praxair Deal Inching Closer

Shares in German industrial gases firm Linde leaped as much as seven percent Wednesday, after reports it had offered new concessions to US authorities as it seeks a merger with competitor Praxair.

Frankfurt am Main, (UrduPoint / Pakistan Point News - 19th Sep, 2018 ) :Shares in German industrial gases firm Linde leaped as much as seven percent Wednesday, after reports it had offered new concessions to US authorities as it seeks a merger with competitor Praxair.

Munich-based Linde is now planning to offload "the bulk" of its North American business to Germany's Messer Group and Luxembourg's CVC Capital Partners, up from some $3.3 billion of assets previously agreed, Bloomberg news reported citing documents from the two buyers.

By 1:30 pm in Frankfurt (1130 GMT), Linde stock had fallen back from its peak, trading up 6.5 percent at 206.90 Euros ($241.66) to top a DAX index of blue-chip German shares up 0.2 percent overall.