Praxair

{{Infobox company

| name = Praxair, Inc.

| logo = Praxair logo.svg

| type = Subsidiary

| traded_as = {{NYSE was|PX}}

| foundation = {{Start date and age|1907}}

| founder = Carl von Linde

| location = Danbury, Connecticut, United States

| area_served = Worldwide

| key_people = Steve Angel
(chairman, president, & CEO)

| industry = Chemicals

| products = Industrial gases

| revenue = {{increase}} {{US$|11.437 billion|link=yes}} (2017)

| operating_income = {{increase}} {{US$|2.448 billion}} (2017)

| net_income = {{decrease}} {{US$|1.237 billion}} (2017)

| assets = {{increase}} {{US$|20.436 billion}}

| equity = {{increase}} {{US$|6.018 billion}}

| num_employees = 26,461 (January 2020)

| parent = Linde plc

| homepage = {{URL|https://www.praxair.com/}}

| footnotes = {{Cite web |date=2018-02-28 |title=FORM 10-K |url=https://www.sec.gov/Archives/edgar/data/884905/000088490518000014/0000884905-18-000014.txt |website=sec.gov}}

{{cite web|url=https://www.sec.gov/Archives/edgar/data/884905/000088490518000014/px201710-k.htm |title=Praxair, Inc. 2017 Annual Report (Form 10-K) |date=January 2018 |publisher=U.S. Securities and Exchange Commission |website=sec.gov}}

}}

Praxair, Inc. was an American worldwide industrial gases company. Founded in 1907, Praxair was the largest industrial gases company in North and South America, and the third-largest worldwide by revenue. In 2018 it merged with Linde AG to form Linde plc. The Praxair name was discontinued on September 1, 2020 in the US.{{cite web |url=https://foodindustryexecutive.com/2020/08/praxair-announces-name-change-to-linde/ |title=Praxair Announces Name Change to Linde |date=August 13, 2020 |publisher=Food Industry Executive }}

History

File:Linde Air Products 1911.jpg

The company was founded by Carl von Linde as Linde Air Products Company in 1907. During the First World War, however, it was confiscated and in 1917, it joined with 4 other chemical companies under the name Union Carbide and Carbon Corporation, while maintaining a separate identity."Praxair, Inc." International Directory of Company Histories. Ed. Paula Kepos. Vol. 11. Detroit: St. James Press, 1995. 402-404 Its degree of independence waxed and waned over the years, and in 1992, it was spun off as a subsidiary, Union Carbide Industrial Gases Inc., and renamed to Praxair when it became a formally independent company three years later.{{cite web|url=http://www.unioncarbide.com/History|title=History|publisher=|access-date=2015-01-31|archive-date=2017-06-09|archive-url=https://web.archive.org/web/20170609104241/http://www.unioncarbide.com/history|url-status=dead}} The name is derived from a combination of the Greek word "praxis", or practical application, and "air", the company's primary raw material.{{cite web|url=http://annual-reports.praxair.com/-/media/corporate/praxairar/documents/annual-reports/praxair2007annualreport.pdf?la=en&rev=c00f3a6b0e784b9e92a4ecc9248d90aa|title=2007 Annual Report|access-date=2020-03-17|archive-date=2021-12-09|archive-url=https://web.archive.org/web/20211209001717/http://annual-reports.praxair.com/-/media/corporate/praxairar/documents/annual-reports/praxair2007annualreport.pdf?la=en&rev=c00f3a6b0e784b9e92a4ecc9248d90aa|url-status=dead}}

In August 2016 it was publicly announced that the American Praxair was in official negotiations to merge with the German Linde Group, which would form the world's largest gas supplier.{{cite web |url=http://www.ft.com/cms/s/0/27db1610-6340-11e6-8310-ecf0bddad227.html |archive-url=https://web.archive.org/web/20160819033842/http://www.ft.com/cms/s/0/27db1610-6340-11e6-8310-ecf0bddad227.html? |archive-date=19 August 2016 |url-access=subscription |url-status=bot: unknown |title=Praxair makes move for German rival Linde |last1=Fontanella-Khan |first1=James |last2=Massoudi |first2=Arash |date=16 August 2016 |website=ft.com |publisher= |access-date=23 August 2016 |quote= }}{{cite web |url=https://www.thestreet.com/story/13675897/1/praxair-reportedly-in-talks-to-acquire-germany-s-linde.html |title=Praxair in Talks to Acquire Germany's Linde |last1=Iwasaki |first1=Mariko |date=16 August 2016 |website=TheStreet |publisher= |access-date=23 August 2016 |quote=}}{{cite web |url=https://www.cnbc.com/2016/08/16/reuters-america-update-3-gas-supplier-praxair-opens-talks-to-buy-germays-linde.html |url-status=dead |archive-url=https://web.archive.org/web/20160913111334/https://www.cnbc.com/2016/08/16/reuters-america-update-3-gas-supplier-praxair-opens-talks-to-buy-germays-linde.html |archive-date=2016-09-13|title=UPDATE 3-Gas supplier Praxair opens talks to buy Germay's [sic] Linde |last1=Stone |first1=Mike |last2=Hack |first2=Jens |date=16 August 2016 |website=CNBC |publisher= |access-date=16 August 2016 |quote=}}{{cite web |url=https://www.reuters.com/article/us-linde-m-a-praxair-idUSKCN10Q2AX?type=companyNews |title=Gas suppliers Praxair, Linde hold merger talks |last1=Stone |first1=Mike |last2=Hack |first2=Jens |date=16 August 2016 |website=Reuters |publisher= |access-date=16 August 2016 |quote=}} The following month in September negotiations were halted and suspended indefinitely.{{cite web|url=http://www.marketwatch.com/story/praxair-linde-call-a-halt-to-merger-talks-2016-09-12?mod=MW_story_latest_news|title=Praxair, Linde call a halt to merger talks|first=Eyk|last=Henning|date=12 September 2016 |publisher=}}{{cite web|url=https://www.ft.com/content/199547a2-f74a-32e1-a695-98bb3e7448a9|archive-url=https://web.archive.org/web/20211106175628/https://www.ft.com/content/199547a2-f74a-32e1-a695-98bb3e7448a9|archive-date=2021-11-06|url-access=subscription|url-status=bot: unknown|title=Praxair, Linde terminate $60bn merger after Linde disagreement|author=Arash Massoudi|date=September 12, 2016|publisher=Financial Times|access-date=2021-11-06}}{{cite news|url=https://www.wsj.com/articles/praxair-and-linde-call-off-merger-talks-1473663095|title=Praxair and Linde Call Off $60 Billion Merger Talks|first=Eyk|last=Henning|newspaper=Wall Street Journal|date=12 September 2016|publisher=|via=www.wsj.com}}{{cite news|url=https://www.reuters.com/article/us-linde-m-a-praxair-idUSKCN11I0GQ|title=Linde, Praxair end $60 billion merger talks|date=12 September 2017|publisher=|newspaper=Reuters|last1=Sassard|first1=Jens Hack}} By mid December 2016 Praxair had resumed negotiations with Linde for a potential merger.{{cite news|url=https://www.wsj.com/articles/linde-resumes-merger-talks-with-praxair-1481122475|title=Linde Resumes Merger Talks With Praxair|first=Eyk|last=Henning|newspaper=Wall Street Journal|date=7 December 2016|publisher=|via=www.wsj.com}}{{cite web|url=https://www.cnbc.com/2016/11/29/praxair-re-approaches-linde-to-resume-merger-talks-report.html|title=Praxair reapproaches Linde to resume merger talks: Report|first=Antonio José|last=Vielma|website=CNBC|date=29 November 2016|publisher=}}{{cite web|url=https://global.handelsblatt.com/companies-markets/linde-ceo-resigns-praxair-talks-resume-657418|title=Linde CEO Resigns, Praxair Talks to Resume|date=7 December 2016|publisher=}}{{cite news|url=https://www.nytimes.com/2016/12/07/business/dealbook/linde-praxair-merger-talks.html|title=Linde of Germany to Resume Merger Talks With Praxair|first=Chad|last=Bray|newspaper=The New York Times|date=7 December 2016|publisher=}}{{cite web|url=http://www.mdm.com/articles/36469-linde-accepts-praxairs-offer-to-resume-merger-talks|title=Linde Accepts Praxair's Offer to Resume Merger Talks|date=8 December 2016|publisher=|access-date=15 December 2016|archive-date=20 December 2016|archive-url=https://web.archive.org/web/20161220145234/http://www.mdm.com/articles/36469-linde-accepts-praxairs-offer-to-resume-merger-talks|url-status=dead}} In late December 2016 an official announcement was made that Praxair had reached an agreement to merge with Linde in a deal valued at $35 billion{{cite news|url=https://www.bloomberg.com/news/articles/2016-12-20/linde-praxair-agree-to-merger-to-create-industrial-gas-giant|title=Praxair to Buy Linde for $35 Billion in Industrial-Gas Deal|newspaper=Bloomberg |date=20 December 2016|publisher=|via=www.bloomberg.com}} with an overall merger value of $65 billion.{{cite news|url=http://uk.reuters.com/article/us-linde-m-a-praxair-idUKKBN17D11F|archive-url=https://web.archive.org/web/20170411102219/http://uk.reuters.com/article/us-linde-m-a-praxair-idUKKBN17D11F|url-status=dead|archive-date=April 11, 2017|title=Linde rejects request to vote on Praxair merger at AGM|newspaper=Reuters|date=11 April 2017|publisher=}} In April, 2017 Linde again rejected a request, from German private-investor association DSW, for a shareholder vote at its annual general meeting in May. Nonetheless in May 2017, both companies reached a deal, in principle, for an all-share merger of equals valued at $75 billion,{{Cite news|url=http://uk.reuters.com/article/us-linde-m-a-praxair-idUKKBN18T0HS|archive-url=https://web.archive.org/web/20170602061605/http://uk.reuters.com/article/us-linde-m-a-praxair-idUKKBN18T0HS|url-status=dead|archive-date=June 2, 2017|title = Linde turns to winning over investors to Praxair merger|newspaper = Reuters|date = 2 June 2017|last1 = Poltz|first1 = Georgina Prodhan}} to form a new holding company.{{cite web|url=http://www.the-linde-group.com/en/news_and_media/potential-merger/index.html|title=Potential Merger - The Linde Group|publisher=|access-date=2017-06-02|archive-url=https://web.archive.org/web/20170519095900/http://www.the-linde-group.com/en/news_and_media/potential-merger/index.html|archive-date=2017-05-19|url-status=dead}} In early June 2017, both companies agreed to the merger.{{Cite news|url=http://uk.reuters.com/article/uk-linde-m-a-praxair-idUKKBN18S5YB|archive-url=https://web.archive.org/web/20170601185051/http://uk.reuters.com/article/uk-linde-m-a-praxair-idUKKBN18S5YB|url-status=dead|archive-date=June 1, 2017|title = Linde, Praxair agree $73 billion merger to create global gases leader|newspaper = Reuters|date = June 2017|last1 = Poltz|first1 = Georgina Prodhan}} US regulatory approval was obtained in October 2018,{{cite web|url=https://www.gasworld.com/praxair-linde-to-complete-90bn-merger/2015680.article|title=A new leader crowned: Praxair and Linde to complete $90bn merger of equals|date=22 October 2018 |publisher=}} after which the financial transaction was completed. As part of this merger, Praxair's European business was sold to Taiyo Nippon Sanso and rebranded Nippon Gases Europe. Upon completion of merger, it formed a new American German company Linde plc domiciled in Ireland and headquartered in Surrey for tax purposes.{{Cite web|url=https://www.praxair.co.in/the-new-linde|title=The New Linde}}{{Cite web|url=https://www.linde.com/news-media/press-releases/2018/linde-plc-announces-satisfaction-of-final-conditions-to-close-business-combination-between-linde-ag-and-praxair|title = Linde PLC Announces Satisfaction of Final Conditions to Close Business Combination between Linde AG and Praxair| date=22 October 2018 }}{{cite web |url=https://process-technology-online.com/top-news/news/praxair-europe-turns-into-nippon-gases-europe/ |title=Praxair Europe turns into Nippon Gases Europe |date=May 7, 2019 |website=Process Technology Online}}