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Industrial gases company Praxair Inc. (NYSE: PX), Danbury, CT, has confirmed that it is in preliminary discussions with Linde AG regarding a potential merger. The deal would create the largest gases supplier in the world with more than $30 billion in annual revenue.
"These discussions are ongoing and there can be no assurance that they will result in a transaction, or on what terms any transaction may occur," the company said, adding that it does not intend to comment further at this time.
The merger would be another blockbuster deal for the gases & welding equipment sector, which saw Air Liquide complete its $10.3 billion acquisition of Airgas Inc. in May.