Deutsche Bank analyst David Begleiter initiated coverage of Linde plc with a Buy rating and $185 price target. The merger with Praxair has created the world's largest industrial gas company with estimated 2019 sales of $28B, EBITDA of $8.6B, and a 32% global market share, Begleiter tells investors in a research note partially titled "An Excellent Combination." The analyst believes the combination of Linde AG and Praxair will create "substantial value" through cost synergies, share buybacks and growth synergies.

Linde announced it has signed two agreements with China South Steel, a member of the China Baowu Steel Group Corporation, one of the world's largest steel enterprises. Linde has signed an agreement to de-captivate an air separation unit, or ASU, at China South Steel's plant in Shaoguan, Guangdong Province. Linde already owns and operates five on-site ASUs to supply industrial gases to China South Steel in Shaoguan and will now de-captivate and upgrade a sixth. The agreement brings Linde's total on-site production capacity in Shaoguan to approximately 130,000 cubic meters per hour. In addition to the de-captivation, Linde has extended its long-term agreement with China South Steel for the supply of industrial gases at Shaoguan. Linde's industrial gases complex also meets demand from Linde's local merchant customers.