8/16/2016, 4:44 PM (Source: TeleTrader)
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Linde confirms potential deal with Praxair

Global engineering giant and gas supplier The Linde Group announced on Tuesday that it is currently in the midst of preliminary merger talks with Praxair Inc., according to the company’s official press release. German Linde highlighted that it has not yet reached any factual agreements with the industrial gases company Praxair.

“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,” the company stated on its website. Linde also added that, if an actual deal between the two firms is confirmed, the official announcement will follow subsequently. The merger of the two firms would most likely create the biggest global gas supplier with a market capitalization of approximately $60 billion.

The Linde Group shares traded in the green on Tuesday, gaining 10.87% in continuous trading at $154.40 per share at 4:40 p.m. CET while Praxair Inc. added 5.24% to trade at $124.22 per share at 4:24 p.m. CET.

Breaking the News / VK