FRANKFURT, June 1 (Reuters) - Linde said its supervisory board voted on Thursday to approve the German industrial gases group’s $73 billion merger with U.S. peer Praxair.
The all-share merger of equals is intended to create a market leader that will overtake France’s Air Liquide, reuniting a global Linde group that was split by World War One a century ago.
Linde’s chairman, Wolfgang Reitzle, did not need to use his casting vote to get the deal approved by the supervisory board in the face of labour opposition, a source familiar with the matter said after a roughly 10-hour meeting.
The deal must still be approved by Praxair’s board and 75 percent of Praxair investors at a shareholder meeting. (Reporting by Georgina Prodhan; Editing by Sabine Wollrab)