This case presents a strategic dilemma faced by Linde India Limited, the subsidiary of Linde PLC, a multinational corporation, in the backdrop of its merger with Praxair Inc.  The firm is attempting a restructuring to realize synergies from the merger, which the minority shareholders in India are disputing.  The complaints were raised with the market regulator, the Securities Exchange Board of India (SEBI), and SEBI's investigation is currently in progress.  The case requires participants to analyze the trade-off between restructuring for synergies and the concerns raised by the minority shareholders.  Participants have to tackle the larger question of optimal structures for synergies in the context of mergers.  The case also provides a setting for studying the legal environment governing mergers and acquisitions in India.