IHS Chemical Week

Markets :: Industrial Gases

Air Products Raises Airgas Bid by 6%

3:37 PM MDT | July 8, 2010 | Nancy Seewald

Air Products says it has increased its offer to acquire Airgas by about 6%, to $63.50/share, despite past assertions that it would not “bid against itself.” The new offer is a 46% premium over Airgas closing price on February 4, the day before Air Products’ initial bid. “We have had extensive and very productive dialogue with Airgas shareholders over the last several months,” says Air Products chairman, president, and CEO. “With this price increase, and the record date now set, we are convinced we will have widespread support...

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