German industrial gases group Linde (LING.DE) has received a fresh approach from U.S. rival Praxair (PX.N) for a merger of equals and its executive board is reviewing the proposal, Linde said in a statement on Tuesday.
The two parties abandoned talks in September to create a $60 billion-plus market leader after failing to agree on where important functions would be located and who would occupy key positions.
Tuesday’s brief statement did not specify whether new terms had been offered.
Linde shares were up 3.7 percent in after-hours trading in Frankfurt (LING.F). Praxair shares rose 3.9 percent in New York.
Linde’s chief executive told Reuters last month that reviving merger talks was not on the cards and announced a further restructuring program instead.
(Reporting by Alexander Huebner and Arathy Nair; Editing by Harro ten Wolde/Ruth Pitchford)
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Source: Reuters.com
