|Bid||96.13 x 100|
|Ask||136.50 x 100|
|Day's Range||134.66 - 136.58|
|52 Week Range||114.43 - 138.69|
|PE Ratio (TTM)||25.56|
|Dividend & Yield||3.15 (2.35%)|
|1y Target Est||N/A|
The proposed $74 billion tie-up of German industrial gases group Linde and U.S. peer Praxair got a boost on Tuesday when the world's biggest sovereign wealth fund said it was backing the deal. The Norwegian fund, which also said the value of its assets had topped $1 trillion, will vote in favour of four key resolutions proposed by Praxair's management at a Sept. 27 meeting of shareholders, it said. "We support the strategic rationale for the merger ... the proposed business combination is in the best long-term interest of Linde AG shareholders," Norges Banks Investment Management (NBIM), which manages the fund, said in a statement.
German industrial gases group Linde does not rule out lowering the shareholder acceptance threshold for its planned $75 billion merger with U.S. peer Praxair, its chief executive told German magazine Euro. Linde shareholders have until Oct. 24 to exchange their Linde shares for shares in the new, combined company. An acceptance rate of 75 percent has been set for the merger to go through.
Shares of Mallinckrodt plc (MNK) were down 12.3% after a U.S. District Court invalidated 11 patents covering its second-largest product Inomax.