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CORRECTED-Linde says to resume merger talks with Praxair, CEO resigns
December 7, 2016 / 1:55 PM / 10 months ago

CORRECTED-Linde says to resume merger talks with Praxair, CEO resigns

(Corrects second paragraph to remove reference to Belloni being a member of the executive board)

FRANKFURT, Dec 7 (Reuters) - German industrial gases group Linde on Wednesday said it would resume talks about a potential merger of equals with Praxair after the U.S. rival made changes to its initial deal proposal.

Linde also said after a meeting of its supervisory board on Wednesday that its Chief Executive Wolfgang Buechele will step down and will be replaced by Aldo Ernesto Belloni, effective Thursday.

The failure of initial merger talks in September already led to changes at the top at Linde, with finance chief Georg Denoke leaving immediately and CEO Buechele at the time planning to stay on only until April.

That has left Chairman Wolfgang Reitzle, Buechele’s predecessor as CEO, as the most powerful figure at Linde.

$1 = 0.9322 euros Reporting by Ludwig Burger; Editing by Maria Sheahan

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