Linde board authorizes $6B share buyback

Monday, 21. January 2019 21:25

Board of Directors of the industrial gases giant Linde plc authorized on Monday a buyback of up to $6 billion of its ordinary stocks, amounting to 15% of the current value of outstanding shares, company officials stated. The operation will be conducted in order to reduce the share capital and potential obligations under the company's equity awards.

It was assessed that the board made the decision under, among other reasons, "reasonable expectations" which include possible "risks and uncertainties". Some of the risks relate to the ability to successfully integrate the Praxair and Linde AG businesses and regulatory or other requirements imposed as a result of the two companies' merger.

The merger of Linde and Praxair created an entity with a market capitalization of around $90 billion.

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Breaking the News / MA