An Unexpected new Obstacle to Mega fusion between Gas Giants. The merger that creates the largest supplier of industrial gases in the world comes up against a new restriction.
The American regulator FTC wants the German producer of industrial gases Linde and the American counterpart Praxair to divest more assets to remove competition concerns. Linde said that on Sunday.
Linde stated that it has become “more likely” that the requirements for the merger now go beyond the threshold value agreed between the two companies.
This threshold relates to the maximum amount of assets that both companies would want to divest to achieve regulatory approval.
Last month, Linde announced the sale of a large part of its North and South American assets.
The total turnover of these activities was 1.2 billion pounds last year.
The threshold value stipulates that total turnover of more than 3.2 billion pounds may not be lost.
Earlier, another sale was declared to receive approval for the merger.