Dec. 07--DANBURY -- Merger talks are officially back on the table between industrial gas makers Praxair and Linde AG as officials at Linde confirmed Wednesday that its board approved Praxair's offer last week to resume discussions.
This summer the gas giants announced they were in talks to merge and form the world's largest supplier of industrial gas. In September, the companies said the talks had terminated because a "mutual understanding" could not be reached.
Last week, Danbury-based Praxair announced in a news release that it had approached German-based Linde AG about reopening talks.
On Wednesday, Linde issued a statement that read, in part, that the company has decided to "resume talks about the essential conditions of a potential merger of equals between the two companies."
Linde AG's executive board consulted with the company's supervisory board and received unanimous agreement to open talks again, according to the release.
The release added that Linde AG's CEO Wolfgang Buechele is stepping down and will be replaced by Aldo Belloni, effective Thursday.
Each company is valued at approximately $30 billion.
Praxair supplies gases such as oxygen, nitrogen, dry ice, helium and neon to a variety of industries. The company, which employs about 400 people in Danbury, had sales of $10.8 billion in 2015. It announced in 2014 it was keeping its headquarters in Danbury and would make a $65 million investment to build a 100,000-square-foot facility at the former location of GE Capital on Riverview Drive.
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