Praxair mum on BOC merger speculation

11 May 1999 17:06  [Source: ICIS news]

HOUSTON (CNI)--US Industrial gases giant Praxair refused comment Tuesday on reports of possible merger discussions with UK-based BOC Group.

But speculation has apparently grown so strong Praxair felt compelled to issue a press release on the question Tuesday. In its written statement, the Danbury, Connecticut company said it "declines to comment on matters of rumour and speculation."

A merger between the two firms would create the world's largest industrial gases group if it ever cleared antitrust hurdles. Praxair saw 1998 sales of $4.8bn (Euro4.5bn) and is the largest industrial gases company in North and South America, and one of the largest worldwide. And BOC posted revenues of $5.3bn last year.

Earlier Tuesday, BOC officials also declined comment the company is in merger talks with Praxair.

By: Mary Ann Tawasha
+1 713 525 2653

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