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Chemical Week Magazine :: Top of the Week
Airgas Urges Shareholders to Reject Air Products Bid
12:50 PM MST | February 26, 2010 | Nancy Seewald
Airgasâ€™ board has recommended that shareholders reject Air Productsâ€™ hostile offer to acquire Airgas. Air Products launched its hostile bid after Airgas rebuffed its unsolicited $60/share proposal on February 4 (CW, Feb.8/15, p. 6). â€śThe Air Products offer significantly undervalues Airgas and fails to reflect the value of our industry leading position and future growth prospects,â€ť says Airgas chairman and CEO Peter McCausland. Airgas says it expects sales of $5.2 billion by 2012, a 33% increase over 2009 revenues. Earnings per share are projected to grow...
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