Deals
Linde Shares Rise on Reports Praxair CEO Is Still Open to Merger
- German industrial gases producer gains to three-week high
- No ‘irreconcilable differences,’ analyst cites CEO as saying
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Linde AG shares rose in Frankfurt on analyst comments that Praxair Inc. Chief Executive Officer Steve Angel is still open to a merger of the two industrial gas producers even after talks collapsed earlier this month.
The stock gained as much as 5.4 percent and traded 3.8 percent higher at 148.40 euros as of 12:49 p.m. local time, the highest since Sept. 9. At a breakfast for analysts hosted by Angel on Wednesday, the CEO said he didn’t see insurmountable differences between the two companies, according to Jeremy Redenius at Bernstein.