Linde AG of Germany and U.S. rival Praxair confirmed they are in preliminary merger talks for a deal that would create the world’s largest industrial gas supplier.
“These discussions are ongoing and have not resulted in any concrete results or agreements yet,” Linde said in its statement on Wednesday.
“Accordingly, it is currently not foreseeable whether there will be any kind of transaction,” the company added.
The statement comes after the Wall Street Journal and Reuters on Tuesday reported that the two companies held initial preliminary talks.
According to the reports, the deal is estimated to be worth more than $60 billion and ranks as one of the largest tie-ups in a strong year for mergers.