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Praxair, Inc. (NYSE: PX), Danbury, CT, and Linde AG (OTCPK: LNEGY), have terminated preliminary discussions for a potential merger.
Shareholder representatives on Linde's supervisory board recommended ending the talks, a move agreed to by Linde's CEO.
"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 noted in a statement.