On 20 December 2016, Linde AG (Linde) and Praxair Inc. (Praxair) announced that the companies intend to combine in a merger of equals under a new holding company through an all-stock transaction. The companies have signed a non-binding term sheet and expect to execute a definitive Business Combination Agreement as soon as practicable.

Hengeler Mueller advises Linde on the transaction. The Hengeler Mueller team includes partners Maximilian Schiessl (Düsseldorf), Jochen Vetter (Munich) (both Corporate/M&A),  Reinhold Ernst (Capital Markets, Düsseldorf), Matthias Scheifele (Tax, Frankfurt), Hans-Jörg Niemeyer (Antitrust, Brussels), Simon Patrick Link (Corporate, Munich), Dirk Uwer (Regulatory, Düsseldorf) as well as associates Matthias Cloppenburg (Corporate, Düsseldorf), Daniel Engel (Munich), Philipp Esser (Düsseldorf), Daniel Illhardt, Lisa Kopp (both Munich) (all M&A), Laura Stoicescu (Antitrust, Brussels) and Marc Wetzig (M&A, Düsseldorf).