Linde To Resume Merger Talks With Praxiar; Chairman Büchele Steps Down

(RTTNews) - Linde AG (LDE.L, LNAGF.PK) said that its executive board has decided to resume talks with U.S.-based Praxiar Inc. (PX) about the essential conditions of a potential merger of equals between the two companies.

Linde's executive board took the decision to resume talks after consultation with the Supervisory Board and on the basis of the proposal received from Praxair. Linde noted that all members of its supervisory board support resuming the talks.

The company also said that Dr Wolfgang Büchele offered its Supervisory Board in its meeting today to step down as a member of the Executive Board, Chairman of the Executive Board and Arbeitsdirektor of Linde AG, effective by end of today.

The Supervisory Board accepted this offer and has appointed Prof Dr Aldo Ernesto Belloni as a member of the Executive Board, Chairman of the Executive Board and Arbeitsdirektor of Linde AG. His appointement is effective as of 8 December 2016 for a term ceasing 31 December 2018.