Air Products & Chemicals has made an unsolicited proposal to acquire Airgas for $60.00 per share. “This is an extremely compelling transaction with undeniable strategic and industrial logic that would benefit shareholders, customers and employees of both companies,” says Air Products chairman, president and CEO John E McGlade. “Bringing together these two highly complementary companies would create substantial value. We highly value the talented operating team at Airgas and believe they would benefit greatly from the expanded opportunities and resources available to them as part of a larger and stronger global US company with significantly greater long-term growth prospects than a stand-alone Airgas. “While it remains our strong desire to reach an agreement with Airgas on a friendly basis, we are fully committed to pursuing this transaction and are prepared to take all necessary steps to complete it, including making an offer directly to Airgas shareholders,” he continues.
