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Business
Air Products, Airgas Trade Barbs Over Bid
by Alexander H. Tullo
March 1, 2010
| A version of this story appeared in
Volume 88, Issue 9
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 record in making acquisitions. Air Products countered that its track record is irrelevant given that it is making an all-cash offer.
The power is now in your (nitrile gloved) hands
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