Preliminary talks between Danbury-based Praxair Inc. and Munich-based Linde AG about merging have ended.
The announcement was made on Sept. 12, following a brief statement confirming the talks on Aug. 16.
“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,” Linde said in a statement.
The merger of the two industrial gas titans would reportedly have been worth about $60 billion.
Praxair, which posted $11 billion in sales last year, is one of the world’s largest industrial gas companies. Employing roughly 400 people in Danbury at 39 Old Ridgebury Road, it produces, sells and distributes atmospheric, process and specialty gases, and high-performance surface coatings.