Newspaper article St Louis Post-Dispatch (MO)

Business Digest

Newspaper article St Louis Post-Dispatch (MO)

Business Digest

Article excerpt

Praxair, Linde to merge * Industrial gas makers Linde AG and Praxair Inc. said Tuesday they agreed to a $65 billion-plus merger.

The combined company will be headed by Praxair Chairman and CEO Steve Angel, who will be based at Praxair's current headquarters in Danbury, Conn. Linde's supervisory board chairman, Wolfgang Reitzle, will take the role of chairman of the new group.

The company will be domiciled outside of Germany in a member state of the European Economic Area, which comprises the European Union as well as Iceland, Liechtenstein and Norway.

"Corporate functions would be appropriately split between Danbury, Conn., and Munich, Germany to help achieve efficiencies for the combined company," Munich-based Linde and Praxair said in their statement.

As part of the agreement on key aspects of the planned all-share merger, existing Linde and Praxair shareholders would each own about 50 percent of the combined company.

An earlier effort to merge the companies was abandoned in September over concerns about jobs and corporate governance.

AMC gets conditional OK to buy Carmike * AMC Entertainment Holdings won U.S. approval with conditions to buy Carmike Cinemas Inc. in a $1.2 billion deal that would create the biggest U.S. movie theater chain.

The Justice Department said Tuesday it approved the deal on condition that AMC and Carmike divest theaters in 15 markets and take steps to ensure that National Cinemedia and Screenvision, the two companies that make and sell pre-show advertising entertainment, remain viable.

Leawood, Kan.-based AMC, which is majority-owned by Chinese billionaire Wang Jianlin's Dalian Wanda Group, has about 380 theaters, while Columbus, Ga.-based Carmike has 276 theaters, according to their websites.

AMC has seven theaters in the St. Louis area; Carmike doesn't have any.

Rite Aid to sell 865 stores to Fred's * Rite Aid Corp. …

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