companies executing foreign mergers to avoid U.S. The deal comes at the tail end of a year of heightened scrutiny over U.S. The new company would retain the name Linde and would be listed on both the New York Stock Exchange and the Frankfurt Stock Exchange. Linde has more than double as many employees as Praxair - 65,000 to Praxair's 26,700 as of the end of 2015 - and roughly 70% more revenue. The companies did not cite tax savings as a primary driver of the accord, but said the combined entity would be "domiciled in a neutral member state of European Economic Area," which includes the European Union countries and a few others that have agreed to free trade with each other. Each company will control half of the board seats on the new entity, which will be called Linde, and their respective shareholders will each hold 50% of the stock. Praxair and Linde said Tuesday that they had agreed to a "merger of equals" that would create a combined global entity with 2015 revenues of about $30 billion. industrial gas giant Praxair will switch its tax headquarters to Europe in a tie-up with German gas giant Linde, marking the latest example of a major American corporation flipping its tax home overseas through the mechanism of a merger.
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