Praxair and Linde Terminate Talks about Merger
Praxair have confirmed that its preliminary discussions with Linde AG regarding a potential have been terminated.
In a separate statement, Linde said its shareholder representatives in the supervisory board, in consensus with the CEO of Linde recommended termination of merger talks with Praxair. The U.S. company also confirmed the termination of talks.
"While the strategic rationale of a merger has been principally confirmed, discussions about details, specifically about Governance aspects, did not result in a mutual understanding," the company said in its statement.
It was on August 16 that the companies confirmed that they were in preliminary discussions for a potential merger. Such a deal would have created the world's largest supplier of industrial gases and would have ranked as one of the largest tie-ups.