Linde buys gas, sells forklift business?

News Story
- 26 Jan 2006 ( #244 ) - WIESBADEN, Germany
2 min read
After months of speculation, Linde AG has confirmed that it has made an all-cash bid for British gas group BOC Group plc (Forkliftaction.com News #224).

Dow Jones International News reported BOC shares surged 21 per cent to GBP13.94 (USD24.91) after the UK company said it had rejected an unsolicited approach from Linde.

BOC said it had turned down the offer because it failed to value fully BOC's growth prospects. It did not say how much Linde had bid but that it was subject to several conditions.

In a later statement, Linde emphasised that its all-cash offer for BOC at GBP15 (USD26.81) a share was a friendly approach, noting that its gas & engineering arm and BOC complemented each other in terms of "products and regions".

An analyst said Linde's approach to BOC was a "decent strategic move" and the combination of the two companies could create the world's biggest industrial gases company.

"They would potentially be able to use Linde's cash flow in Germany to expand the industrial gas businesses in Asia, where BOC has a strong position," the analyst said.

Linde said in its statement that its banks were "highly confident" that financing for a possible acquisition could be arranged quickly.

Breaking News
A Financial Times Deutschland report says Linde AG may consider selling its forklift business to help finance a possible acquisition of BOC. The report cites unidentified sources involved with the takeover plans.

Chief Executive Officer Wolfgang Reitzle will seek potential buyers for the business if Linde's 7.54 billion pounds ($13.5 billion) offer, which BOC has rejected, goes through, the newspaper said. Linde Chief Financial Officer Peter Diesch is in talks with banks this week to discuss possible financing strategies, the FTD reported.

The report said Linde expects to fund 40 per cent of the acquisition with credit and the rest with the sale of new shares and its forklift business.
(source: Bloomberg.com)
Briefs
Briefs 10 Jul 2025 - 1 min read
Best Line and Burwell expand in US
Best Line and Burwell expand in US 10 Jul 2025 - United States - 1 min read
Briefs
Briefs 26 Jun 2025 - 1 min read
Previously about:
LogiMAT records 43% increase in exhibitors from China News Story - 3 Apr 2025 - Stuttgart, Germany - 4 min read
Geopolitics and macroeconomics large concerns for materials handling sector News Story - 20 Mar 2025 - Stuttgart, Germany - 3 min read
Caterpillar financial results News Story - 7 Nov 2024 - Woking, United Kingdom - <1 min read
Do you have materials handling news? Submit your news here

PREMIUM business

BSL New Energy Technology Co., Ltd
BSLBATT - practical expertise and excellent design in the industrial lithium-ion battery market.

Since July 2000, Forkliftaction News has been your guide to the developments that are shaping your industry.

Starting today we are also looking back on some of the key news stories from our extensive news archive.

In the news email and on the website, you'll see links to stories that were 'leading our news' multiple years ago, with topics spanning world-first products, big acquisitions, and major industry shifts.
We hope you enjoy this unique insight into the materials handling industry!

Words of support …

Thanks to advertising with Forkliftaction, we have received inquiries and more and more people are aware of Ningbo Ruyi Joint Stock Co.,Ltd, which fits with our company's goal to go global and let the world know more about the benefits of our Xilin brand.

Michille Shi, Vice General Manager Sales

Are you recruiting? Find your ideal candidate among a diverse range of materials handling professionals:

Forkliftaction's JOB MARKET

It’s the year 2000. You’re in front of a boxy beige desktop waiting for the screeching ramblings of your dial-up to reach its finale. You go to Yahoo!, MSN, or maybe AOL, and start the mind-numbing process of finding your very specific needle in the digital haystack. And with web pages loading one image at a time, patience isn’t just a virtue – it’s a requirement!

As clumsy as this early iteration seems now, this technology was the great enabler that allowed Forkliftaction to connect to the industry across the globe.  

To everyone who has connected with Forkliftaction in the past 25 years, thank you for your contribution to our success! We feel deeply touched by your words of encouragement.

What has Forkliftaction meant to you? Drop us a line.

Inside The News
This week Forkliftaction News is celebrating its 25th anniversary! A wonderful achievement given we launched at a time when just 6% of the world’s population were internet users, according to Internet World Stats . Over the coming weeks, we will be sharing stories about our history and rolling out more celebrations, so keep an eye out... Continue reading

PREMIUM business

VETTER Industrie GmbH
The world's most comprehensive range of forks and the most intelligent sensor fork for more safety and efficiency.

Are you recruiting? Find your ideal candidate among a diverse range of materials handling professionals:

Forkliftaction's JOB MARKET

PREMIUM business

Noblelift
Global leader and manufacturer of high quality electric, lithium-ion, and IC material handling equipment.

Are you recruiting? Find your ideal candidate among a diverse range of materials handling professionals:

Forkliftaction's JOB MARKET

It’s the year 2000. You’re in front of a boxy beige desktop waiting for the screeching ramblings of your dial-up to reach its finale. You go to Yahoo!, MSN, or maybe AOL, and start the mind-numbing process of finding your very specific needle in the digital haystack. And with web pages loading one image at a time, patience isn’t just a virtue – it’s a requirement!

As clumsy as this early iteration seems now, this technology was the great enabler that allowed Forkliftaction to connect to the industry across the globe.  

To everyone who has connected with Forkliftaction in the past 25 years, thank you for your contribution to our success! We feel deeply touched by your words of encouragement.

What has Forkliftaction meant to you? Drop us a line.