On 6 March 2006, Linde AG announced its intention to acquire control over the BOC Group Plc (BOC), subject to regulatory approvals in Europe and the United States (the proposed acquisition). The proposed acquisition is expected to take place on 5 September 2006.
Linde AG and Linde Gas Pty Limited (Linde Gas) subsequently proffered to the ACCC a section 87B undertaking (undertaking) that:
Linde AG will sell all the issued share capital in Linde Gas to a purchaser approved by the ACCC;
Linde AG will hold separate and maintain Linde Gas from the date of the proposed acquisition until the date that Linde Gas is sold; and
Linde AG and Linde Gas will appoint an ACCC approved auditor to monitor compliance by the parties with the undertaking.
The ACCC determined that the undertaking is adequate to address the ACCC's concerns arising from the proposed acquisition in Australian industrial (including medical) helium and specialty gas markets.
On 5 September 2006, the ACCC accepted the undertaking proffered by Linde AG and Linde Gas and did not oppose the acquisition of BOC by Linde AG.
