IHS Chemical Week

Markets :: Industrial Gases

Airgas Urges Shareholders to Reject Air Products Bid

12:05 PM MST | February 22, 2010 | Nancy Seewald

Airgas’s board of directors has recommended that its shareholders reject Air Products’ proposal to acquire Airgas through a hostile takeover. Air Products launched its hostile bid last week after Airgas rejected its unsolicited $60/share proposal on February 4.  “The Airgas board of directors is unanimous in its belief that the Air Products offer significantly undervalues Airgas and fails to reflect the value of our industry leading position and future growth prospects,” says Airgas chairman and CEO Peter McCausland. “We believe...

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