Advertisement

If you have an ACS member number, please enter it here so we can link this account to your membership. (optional)

ACS values your privacy. By submitting your information, you are gaining access to C&EN and subscribing to our weekly newsletter. We use the information you provide to make your reading experience better, and we will never sell your data to third party members.

ENJOY UNLIMITED ACCES TO C&EN

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.

Article:

This article has been sent to the following recipient:

0 /1 FREE ARTICLES LEFT THIS MONTH Remaining
Chemistry matters. Join us to get the news you need.