British BOC said today it rejected a bid from Linde due to regulatory issues and it was making good progress in the first quarter.
According to the BOC, the rejection was unanimous by the board.
The unsolicited approach from Linde also contained regulatory hurdles as a precondition, which meant your company would inevitably have had to suffer a further period of uncertainty while these were examined, it said in a statement.
It continued: The proposal was conditional on financing arrangements that had to be finalised and they were themselves subject to commercial due diligence.
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