 "Industrial gases firms Praxair and Linde engage in merger talks")
The US-based industrial gases major Praxair Inc and the German gases & engineering company Linde AG have confirmed that they are currently holding a preliminary discussion regarding a potential merger. “These discussions are ongoing and have not resulted in any concrete results or agreements yet. Accordingly it is currently not foreseeable whether there will be any kind of transaction. Should these talks be successfully continued, Linde will inform the capital market and the public in accordance with statutory requirements,” said Linde in a statement.
In last two years, global industrial gases industry has been witnessing consolidation with a series of mergers and acquisitions amid slowdown in demand from user industries such as manufacturing, metals and energy. Praxair-Linde merger will aim to counter competition from France’s Air Liquide, which acquired US Airgas Inc for $ 10.3 billion in November last year.
Linde, which produces and distributes the atmospheric gases oxygen, nitrogen, argon, etc, has a strong presence in healthcare sector. In 2015, the Linde Group generated revenue of $ 19.7 billion (about Euro 17.944 billion), making it one of the leading gases and engineering companies in the world, with approximately 65,000 employees working in more than 100 countries worldwide. In fact, it emerged as the leading industrial gases company after it acquired the UK-based BOC in March 2006 for $ 14.4 billion.
On the other hand, Praxair mainly focuses on on-site production for a wide variety of industries, including aerospace, chemicals, food & beverage, electronics, energy, primary metals, etc. With 2015 sales of $11 billion, the company is one of the leading industrial gas companies in the world, with strong presence in North and South America.
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