While suspense grows over the long-anticipated mega merger between Praxair and Linde, speculation is surfacing of another significant deal that could also be part of an overall tectonic shift when it comes to industrial gas business market share.
In a January press release, Air Products confirmed that it has submitted a proposal letter to China’s Yingde Gases Group as a “non-binding indication” to acquire. The release concluded by revealing that no agreement had been reached, and that Air Products would have no further comment at this time.
But according to a December article in Bloomberg, the deal to acquire China’s third-largest industrial gases producer (13% market share percentage) could be worth $1.34bn.
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