, Columnist
Want Some Valuation Alchemy?
Praxair shareholders are being asked to take a leap of faith in Linde deal.
This article is for subscribers only.
Praxair Inc. shareholders have been able to console themselves with one thought as their company bends over backwards to secure a merger with Linde AG: the stock market might put a higher valuation on what will be the world's biggest supplier of industrial gases.
They shouldn't take it for granted. The supporting evidence from past deals is mixed.