Shares in BOC soar as German rival forced to consider raising �7.6bn bid

British group hits back by reaffirming independence · Linde plays down chances of making hostile offer David Gow in Brussels and Mark MilnerWednesday January 25, 2006The Guardian
Linde, the German industrial gases firm, was last night considering an improved offer for BOC after its British rival rejected a takeover approach pitched at £15 a share, valuing the FTSE 100 business at £7.6bn.
The Wiesbaden-based Linde, which also makes forklift trucks and sold its original refrigeration business two years ago, said only that it would "express itself at an appropriate time". Industry sources in Germany said a merger with BOC would be "a sound strategic fit" for both groups, while France's Air Liquide, the market leader, and German chemicals group BASF both ruled themselves out of the immediate equation, dashing hopes of a bidding war. Nevertheless, shares in BOC closed 243p higher at £13.94p - a gain of 21%.