Lincoln Electric considers Air Liquide Welding acquisition
Lincoln Electric Holdings has signed a memorandum of understanding and entered into exclusive negotiations to acquire Air Liquide’s subsidiary, Air Liquide Welding.
The proposed acquisition is subject to a definitive agreement between the parties and customary conditions and provisions for a transaction of this type, including the “information-consultation” process with the employee representative bodies and the applicable competition authorities’ approval.
Air Liquide Welding, which has approximately 2,000 employees across the world, has generated in 2016 a turnover of around €350 million ($371 million).
J.P. Morgan Securities LLC is acting as the financial advisor and Jones Day is acting as legal advisor to Lincoln Electric.