Media reports on Elliott's stake building boost Air Liquide shares

Linde

01/09/2026 08:11

Updates shares; adds analyst comment in bullets 2-3, milestone in bullet 6
** Shares in Air Liquide AIRP.PA rise 3.6% after media reports that activist investor Elliott Investment Management has built a stake and is pressing the French industrial gases producer to improve profitability
** Bernstein says Air Liquide is "not an obvious candidate for a traditional activist campaign," noting its improving profit margins, record order backlog and share price valuation broadly in line with rivals
 ** Still, "there is room for some incremental improvements," including potentially bolder moves in electronics projects and a share buyback, Bernstein adds
** Air Liquide's H1 operating margin stood at 21% compared to direct competitor Linde's LIN.O 30%, according to LSEG data
** Elliott has engaged with Air Liquide for months and is urging steps to narrow its margin gap with larger rival Linde, sources familiar with the matter told Reuters
** Air Liquide shares head for their biggest single-day rise in about six months if gains hold
     

(Reporting by Nathan Vifflin in Gdansk)
((nathan.vifflin@thomsonreuters.com; gdansk.newsroom@thomsonreuters.com; +48 58 769 67 13;))