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.
