Industrial gas makers Praxair and Linde are once again discussing a potential merger after calling off talks in September.
Reuters, citing a source close to Linde, reported Wednesday that Praxair approached the company again with an attempt to address the issues that scuttled earlier negotiations.
Praxair is headquartered in Danbury, Conn., while Linde is based in Munich and also includes engineering and medical gas operations. A combined company would be worth an estimated $60 billion and be a global leader in the market for gases used in manufacturing, energy and food processing.
Industrial gas suppliers struggled of late due to weak demand from industry, which prompted a push for consolidation. French company Air Liquide earlier this year finalized its purchase of Airgas.
Linde began a restructuring effort in order to meet slow growth projections, but analysts suggested that cuts might be insufficient to weather those conditions.
Negotiations, however, are still expected to be difficult between the two rivals. Linde's supervisory board is expected to discuss the new merger talks next week, Reuters noted.