Industrial gases company Praxair Inc. (NYSE: PX), Danbury, CT, said it has approached Linde AG about resuming discussions of a potential merger, but didn't comment further. The deal would create the largest gases supplier in the world with more than $30 billion in annual revenue.
The merger was first discussed in August, but shareholder representatives on Linde's supervisory board in September 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.
If talks resume and the merger eventually happens, it 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.
