GERMAN-based Linde says it want a quick close of its acquisition of competitor BOC and is willing to sell more assets than expected in order to avoid antitrust problems.
CEO Wolfgang Reitzle said at the Reuters Chemicals Summit today that he is willing to give away in such a situation, (should) the company face this, even a little bit more than necessary to make it fast.
He told Reuters: \\$quot;Our willingness is there to fulfil the requirements of antitrust (officials), without arguing.\\$quot;
Linde will shed its forklifts division as part of the move, creating a new company with pro-forma gas and engineering revenue of 11.9 billion euros and surpassing current number one Air Liquide, which has revenues of 10.4 billion euros.
According to Reuters Reitzle has already told European Union competition authorities he would sell Linde's UK gases business, where it generates 50 million euros in sales, and expects it would probably sell BOC's business in Poland to soothe cartel concerns.
He continued: 'Sure, we could now start along the negotiation process in trying to get an approval for a certain mix and match in Poland, look at all the combined assets and then cherry-pick and offer them only the not-so-well performing businesses and keep the very best,' he said.
'That would be possible, but it would take longer. So for us speed is very important. Therefore the idea is just to say make it simple -- just offer,' he summed up.