FRANKFURT – Praxair enticed prospective merger partner Linde into resuming negotiations by offering to locate some central functions of the combined group in Germany, two people familiar with the matter told Reuters on Wednesday.
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Also under the proposed terms, one the new entity's executive board members would be based in Munich, where Linde is headquartered, the sources said, adding that both companies now plan to draw up a non-binding term sheet for the deal before the Christmas holidays.
German industrial gases group Linde earlier said it invited U.S. rival Praxair to negotiate a merger of equals after Praxair defused some contentious issues that had led to the failure of an initial approach.
(Writing by Ludwig Burger; Editing by Edward Taylor)