European Commission approves Linde’s acquisition of BOC
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The European Commission has approved the acquisition by Linde AG, Wiesbaden, of The BOC Group plc, Windlesham, UK. The approval is subject to certain conditions. The conditions require the divestiture of Linde’s gas business in the UK, BOC’s gas activities in Poland and contracts with Linde’s ethylene oxide customers in the UK and Ireland. These divestitures correspond to a sales volume of approximately 160 million euros.
In addition, Linde committed to transfer certain contracts with helium suppliers and to sever, to an extent agreed with the Commission, joint ventures between BOC and Air Liquide in the Asia/Pacific region, either by selling BOC’s shareholding or by acquiring Air Liquide’s shareholding.
“The approval from the European Commission is a key step towards a merger with BOC,” confirmed Prof. Wolfgang Reitzle, President and CEO of Linde AG. “We expect the transaction to be closed in the course of the third quarter of 2006. The extent of the Commission’s conditions is in line with our expectations and we will comply promptly with these conditions.”
The US Federal Trade Commission's investigation is well advanced. Linde believes that a positive decision will be issued within the next several weeks and is confident to be able to close the transaction according to plan in the third quarter of 2006.
This announcement does not constitute an offer or invitation to purchase any securities. BOC shareholders are advised to read carefully the formal documentation in relation to the Offer once it has been despatched.
European Commission approves Linde’s acquisition of BOC -
European Commission approves Linde’s acquisition of BOC -
European Commission approves Linde’s acquisition of BOC -
European Commission approves Linde’s acquisition of BOC -
European Commission approves Linde’s acquisition of BOC -
European Commission approves Linde’s acquisition of BOC - Order materials
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European Commission approves Linde’s acquisition of BOC - Contact