Linde ups share buyout offer for Malaysian Oxygen

29 June 2007 11:22  [Source: ICIS news]

SINGAPORE (ICIS news)--Germany’s Linde Group on Friday raised its offer to buy the 55% of shares it doesn’t already own in Malaysian Oxygen by 13%, valuing the company at ringgit (M$) 2.4bn ($691.6m).

 

The world’s largest maker of industrial gases raised its offer to M$17/share for Malaysian Oxygen from M$15/share, its adviser investment bank CIMB said in a statement to the Kuala Lumpur stock exchange.

 

Linde offered to buy the rest of Malaysian Oxygen after acquiring a 22.5% stake from Air Liquide, which gave Linde 45% of the Selangor-based company.

 

Malaysian Oxygen’s stock was suspended from trading for the revised offer announcement and will resume trading on 2 July.

 

Linde has set a 13 July deadline for the revised offer, CIMB said, adding that investors which had accepted the original offer are entitled to receive the new price.

 

Linde's shares were trading at €89.76 ($121.30) on the Frankfurt stock exchange at 11:00 local time, a rise of €1.83 on the previous close.

 

($1 = M$3.47/$1 = €0.74)

 

By: Jeanne Lim
+65 6780 4359

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