US gas company Praxair is in talks to acquire Linde, a German rival, to create the world’s largest supplier of industrial gas with a combined market capitalization of more than $60 billion. The deal is likely to face significant antitrust scrutiny given its potential size.

Regulators in Europe and America have become increasingly vigilant about enforcing competition rules after a number of mega mergers in the energy, healthcare, and industrial sectors. The combined entity will become, by far, the largest player in the industry and will gain control of 36% of the U.S. industrial gas market.

Linde shares were among the best performing European stocks on August 16, rising 10.8% to 154 euros. The share price of Praxair, which is based in Danbury, Connecticut, rose 5.4% to $124 in New York trading.

Praxair, which employs nearly 27,000 people, sells its gas products to companies across the globe in a variety of sectors, which include healthcare, petroleum refining, manufacturing and water treatment. On the other hand, Linde employs more than 65,000 workers and specializes in selling compressed and liquefied gases for use in steel and glass production, chemical and food processing, and welding among others.