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Business
Air Products Snubbed By Airgas Again
by Alexander H. Tullo
July 26, 2010
| A version of this story appeared in
Volume 88, Issue 30
The board of industrial gases distributor Airgas has rejected ’ sweetened $63.50-per-share buyout offer. Airgas had rejected three previous offers. Airgas CEO and founder Peter McCausland says the latest price “grossly undervalues” his company and its prospects. On the day it rejected the offer, Airgas posted the second-highest quarterly earnings in its history. Its management raised its outlook for its current fiscal year and expressed confidence about meeting earnings targets through 2012. “Airgas stockholders—not Air Products—should reap the benefits of our increased earnings power and bright future,” McCausland says.
The power is now in your (nitrile gloved) hands
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