Linde boss hopes to finalise Praxair merger 'by late April'

The head of German industrial gases maker Linde said Thursday he aimed to finalise the details of a planned mega-merger with US rival Praxair by late April, signalling that the push to create a new global gas giant was picking up speed.

"Our goal is to be ready by the end of April and agree on a binding merger agreement, in which all the details are worked out," chief executive Aldo Belloni told Germany's daily Sueddeutsche Zeitung in an interview.

The agreement would then be presented to shareholders at Linde's annual general meeting on May 10, he added.

The proposed $65-billion (60-billion-euro) deal, which would see the two groups overtake France's Air Liquide as the world's industrial gas leader, still requires regulatory approval.

Belloni hinted that the two firms were bracing for the challenge of dealing with a new US administration that favours a protectionist, inward-looking stance that could potentially complicate the deal.

"It's not easy at the moment to imagine building closer ties with the US," Belloni said.

But "we are sticking to our plan, we're convinced of its logic," he added.

If it receives the necessary approvals, the transaction should be completed in the first half of 2018.

The new company would be based in Praxair's home of Connecticut but carry the Linde name.

Linde and Praxair announced in December that they had agreed the outlines of what their so-called "merger of equals" would look like.

The breakthrough came after an earlier attempt at a tie-up failed amid reports of infighting about executive positions and management locations.

Linde's chief financial officer Georg Denoke, said to have opposed the merger, stepped down after those talks fell through.