Afrox Global Deal Looks Set to Collapse.

(From Moneyweb (South Africa) - AAGM)

Byline: Alec Hogg

Tough competition laws in the US look likely to rescue South Africa's dominant industrial gas group Afrox Limited from becoming a pawn in a global chess game between two global giants bidding to buy the local group's UK-based parent.

Although local management hoped that the business would be kept intact, there is no guarantee that the operation would not be carved-up and split between the two bidders.

Afrox is a 56% subsidiary of UK-based BOC Group. In July last year, BOC's board of directors accepted a cash offer worth £7,2 billion (R75,6 million) made jointly by its major …