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Airgas Rebuts Air Products Letter

10:34 AM MDT | July 23, 2010 | Vincent Valk

Airgas has released a reply to the letter Air Products sent to Airgas shareholders on Wednesday. Air Products' letter, signed by CEO John McGlade, "is just another attempt to facilitate its grossly inadequate offer," Airgas says. The company cited its recently announced earnings, in which it raised its full-year earnings per share guidance, as evidence that Air Products' hostile bid is undervalued. Further, Airgas accused Air Products of "trying to frighten Airgas stockholders about market conditions." Airgas says Air Products' economic view...

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