Linde, Praxair Said to End Talks on Concern Over Munich Role
- Deal would have created biggest industrial gas supplier
- Disagreements end all-stock merger worth more than $30 billion
M&A Roundup: Linde-Praxair, Potash Corp.-Agrium
Linde AG and Praxair Inc. ended talks to create the world’s largest supplier of industrial gases over the German company’s concerns that jobs and operations would be cut at its Munich headquarters, people familiar with the matter said.
The companies had agreed to broad terms and management roles, people with knowledge of the matter said Monday, asking not to be identified as the information is private. They planned to base the holding company for the combined entity in Europe, with the operational center in Praxair’s hometown of Danbury, Connecticut, the people said. Linde asked for guarantees to base certain operations and jobs at its Munich headquarters, the people said. Talks between the CEOs broke down over that issue, they said.