ADVERTISEMENT
2 /3 FREE ARTICLES LEFT THIS MONTH Remaining
Chemistry matters. Join us to get the news you need.

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 pulls offer for Yingde

by Alexander H. Tullo
April 3, 2017 | APPEARED IN VOLUME 95, ISSUE 14

Air Products has withdrawn its offer for the Chinese industrial gas supplier Yingde Gases, saying that it wasn’t in its own best interests to pursue the deal. The company made the offer, worth about $1.3 billion, in January. If successful, the purchase would have been the rare takeover of a large Chinese chemical maker by a U.S. firm. Yingde has been suffering from squabbling among directors on its board. This abated last month when the company’s founders agreed to sell their combined 42% stake to the private equity firm PAG Asia Capital, which is now a likely buyer of the entire company.

X

Article:

This article has been sent to the following recipient:

Leave A Comment

*Required to comment