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Linde, Praxair offer concessions in bid to win EU okay for merger

Reuters
FILE PHOTO: Linde Group logo is seen at a company building in Munich-Pullach, Germany August 16, 2016. REUTERS/Michaela Rehle/File Photo

BRUSSELS (Reuters) - German industrial gases company Linde (LING.DE) and U.S. peer Praxair (PX.N) have offered concessions in a bid to address EU antitrust concerns and secure approval for their merger.

The companies submitted their offer on June 20, according to a filing on the European Commission website on Thursday. The EU competition enforcer extended its deadline for a decision to Aug. 24, without providing details of the concessions.

Sources say the companies plan to divest assets in Europe and the United States where the deal is also under regulatory scrutiny.

Taiyo Nippon Sanso Corp and private equity firm Carlyle Group (CG.N) are the frontrunners to buy assets, sources told Reuters earlier this week. Securing a potential buyer could help allay regulatory worries.

(Reporting by Foo Yun Chee)