Air Products has submitted a letter to offer to purchase Yingde Gases Group Company Limited, China’s largest industrial gas producer. This is a preliminary, non-binding indication of interest to acquire all of the outstanding shares of Yingde, subject to the satisfaction of certain conditions described in the letter.
The company said that there is no assurance that such an agreement will be reached or, if such an agreement is reached, that a transaction will be completed.
Linde and Praxair, one of Air Products’ main rivals, announced in December their intend to combine in a merger of equals under a new holding company called Linde through an all-stock transaction.
- Air Products, Lehigh Valley, PA, USA
- Yingde Gases Group Company Limited, Shanghai, China
