Linde AG and Praxair, Inc. have announced that the two companies have reached an agreement on the Business Combination Agreement and intend to combine in a merger of equals under a new holding company through an all-share transaction. The transaction is valued at a total of approximately 60 billion Euros. Also after possible signing of a Business Combination Agreement there is no assurance that a transaction will be consummated. The execution of the transaction will be in particular subject to its approval by the shareholders meeting of Praxair, Inc. with the required majority, the acceptance of the holding company's public exchange offer by presumably a minimum of 75 % of the outstanding Linde AG shares, clearance of the transaction by the competent regulatory authorities and the satisfaction of certain other conditions.

Perella Weinberg Partners L.P. acts as financial advisor of Linde AG together with Morgan Stanley. Gleiss Lutz advises Perella Weinberg on takeover law issues and other aspects related to the envisaged merger of equals. 

A team of Gleiss Lutz lawyers led by Dr. Christian Cascante and Dr. Jochen Tyrolt (both partner, corporate/M&A, Stuttgart) advises Perella Weinberg.

Gleiss Lutz has extensive expertise in public takeovers and is regularly involved in high-profile deals (both friendly and hostile) – advising buyers, targets or investment banks. In the recent 5.3 billion Euro takeover offer for MDAX-listed STADA Arzneimittel AG by financial sponsors Bain Capital and Cinven, a team of Gleiss Lutz lawyers led by Dr. Jochen Tyrolt and Dr. Christian Cascante (both partner, corporate/M&A, Stuttgart) advised Perella Weinberg, financial advisor of STADA Arzneimittel AG.