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Markets :: Industrial Gases
Air Products Urges Airgas Shareholders to Vote for Bid
2:03 PM MDT | July 21, 2010 | Vincent Valk
In a letter to Airgas shareholders, Air Products CEO John McGlade urged acceptance of his company's $63.50/share offer to acquire the packaged gases firm. This morning, Airgas formally rejected Air Products' raised bid, as the company's earnings beat analyst estimates. Air Products raised its bid for Airgas earlier this month. "Airgas' recent performance does not change our view of the company's intrinsic value. We remain confident that our all-cash offer exceeds the value Airgas could produce for shareholders in the future through execution of its...
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