Linde says 92% of shares tendered by end of exchange period
Linde plc announced that 92% of the ordinary shares of Linde AG entitled to voting rights were tendered by the end of the additional acceptance period of Linde plc's exchange offer on November 24, 2017. The tender process has been completed and no further Linde AG shares can be tendered in the exchange offer. The business combination remains subject to the receipt of certain antitrust and other regulatory approvals and is expected to be completed in the second half of 2018. Aldo Belloni, CEO of Linde AG, said: "We are appreciative for our shareholders' confidence in this opportunity to create a leading company in our industry. We are moving forward with the regulatory review process at full speed and with our most focused attention." If the business combination is completed, Linde plc could initiate a merger-related squeeze-out with respect to Linde AG under German law because the acceptance level in the exchange offer has reached 90%. However, no decision with respect to such squeeze-out has yet been made.