Boc Group Takeover By Air Liquide, Air Products Flops

The BOC Group Plc survived the $11.7 billion joint takover bid by Air Liquide, France, and the US-based Air Products & Chemicals. The offer lapsed yesterda as the US FTC approval was not received, and the two companies did not wish to waive the preconditions or to extend the offer. The global deal was conditional to the regulators in the US and Europe approving it, as the BOC Group aas to be divided and merged with the companies. In July last year, the board of the BOC Group Plc had agreed to the joint take-over bid. BOC Group confirmed that it will continue as an independent company, and take positive steps to develop business and build shareholder value.