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Praxair, Linde Move Closer to $45 Billion Merger With Taiyo Deal

  • U.S. company selling European assets to Taiyo for EU5 billion
  • Taiyo gets businesses in France, Germany and other countries
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Linde, Praxair Deal Faces Regulatory Setback on Antitrust Demands
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Praxair Inc. and Linde AG took a major step toward overcoming antitrust hurdles blocking their planned $45 billion merger by agreeing to sell a raft of industrial-gas plants in Europe to Taiyo Nippon Sanso Corp.

The Japanese supplier of oxygen and argon to the steel industry will pay 5 billion euros ($5.9 billion) to expand its reach from Germany to Portugal and over to the U.K., the companies said in statements on Thursday. The deal, first reported Wednesday by Bloomberg News, gives Taiyo Nippon a foothold in the region to compete head on with dominant suppliers Linde and Air Liquide SA of France.