The Japan affiliate of BOC (U.K.), BOC Japan announced 3 April that it will acquire all the shares of Osaka Sanso Kogyo via a take-over bid (TOB). Following the purchase, a share swap or merger is sch…
The Japan affiliate of BOC (U.K.), BOC Japan announced 3 April that it will acquire all the shares of Osaka Sanso Kogyo via a take-over bid (TOB). Following the purchase, a share swap or merger is scheduled on or about 1 October. BOC already owns 55.12% of the shares of Osaka Sanso via BOC Japan, and the aim is to strengthen its international competitiveness by bringing it fully under its wing and incorporating it into its global strategy. Osaka Sanso“s agreement to the TOB was expressed via a motion carried unanimously at a board meeting held on the same day. The purchase price is JPY 310 (US$ 2.50) per share and 50,246,085 shares are scheduled to be acquired. The purchase will take place over a 23-day period from 4 April to 26 April. BOC is the world No. 2 industrial gases manufacturer, and it has been present in Japan since 1968. Since then, in 1982 it signed an agreement including capital affiliation with Osaka Sanso, and the relationship was strengthened when the shareholding exceeded 50% in 1998.