German Gas Supplier Linde Abandons Praxair Merger Talks

German industrial gas supplier Linde said Monday it abandoned plans to merge with US competitor Praxair, a tie-up that would have created the world's biggest firm in the sector. 
The company said in a statement today that the shareholders recommended terminating talks with Praxair Inc. on the merger. Chief executive Wolfgang Buechele and the rest of the supervisory board agreed with the decision, the statement said. 
AFP reported today that , despite the strategic rationale of a merger being principally confirmed, discussions about governance aspects were the stumbling block. 
A merger between the two could have allowed Linde to overtake historic French rival Air Liquide as the world's biggest industrial gas supplier, with estimated annual revenues of more than $30 billion.

Source : QNA