Linde, the world's leading industrial gas maker, said today that it was raising its takeover offer for the 55 percent it does not already own in Malaysia Oxygen Berhad (MOX).

Linde, whose AGA subsidiary acquired a 45-percent stake in MOX from French group Air Liquide in February this year, had originally offered to buy the remaining shares at 3.21 euros (US$4.30) apiece.

That offer, which would have expired on Friday, valued the 55 percent that AGA did not already own at 250 million euros (US$335 million).

But in the face of the reluctance on the part of shareholders to accept the offer, AGA had now decided to raise the bid price to 3.64 euros per share, valuing the stake at 280 million euros.

In addition, the offer was being extended until July 13, a spokesman said.