Volume 88 Issue 9 | p. 24 | Concentrates
Issue Date: March 1, 2010

Air Products, Airgas Trade Barbs Over Bid

Department: Business
Keywords: mergers and acquisitions, hostile takeover, industrial gases

Airgas, which last month rejected Air Products & Chemicals’ unsolicited $60.00-per-share takeover proposal, is sticking to its guns now that Air Products has taken the bid hostile. Last week, Airgas’ board told shareholders not to tender their shares to Air Products. Airgas reiterated arguments that the bid undervalues the company and is opportunistic given the decline of its stock before the proposal. It also said Air Products has a poor track . . .

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