German industrial gas maker Linde and its U.S. rival Praxair must strike the right balance in their merger, Aldo Belloni, the chief executive of Linde, told Handelsblatt.
“We have to set out markers so that balance is preserved,” Mr. Belloni said in an interview.
Linde and Praxair agreed on Tuesday to a merger that will create the leading industrial gas maker in the world, worth more than €61 billion ($65 billion).
The two companies still have to finalize how they will divvy up board seats. Handelsblatt has learned from U.S. industry sources that the functions will be “adequately divided” between Praxair in Danbury, Connecticut and Linde in Munich.
The head of Praxair, Steve Angel, will lead the merged company’s day-to-day operations from the United States. Praxair also wants to pick the chief financial officer, the sources said.
The German side will fill half of the leadership positions and the merged company, which will operate under the name Linde, will have its headquarters in Europe. London, Ireland and the Netherlands are under discussion as possible options, according to information obtained by Handelsblatt.
There has also been speculation that Linde might spin-off its engineering unit in the wake of the merger. Mr. Belloni played down those rumors: “The engineering unit will remain in the family,” he said.
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