Speculation whether Air Products will be successful in taking over China’s Yingde Gases Group has been brought to an end with the official disclosure that the company will not be pursuing the acquisition.
The following statement was released on Friday in an official filing from the US Securities and Exchange Commission (SEC):
“Air Products announced that it has determined it is not in the best interests of Air Products’ shareholders to continue to pursue an acquisition of Yingde Gases Group Co. Ltd. at this time.”
The industrial gas major’s first moves to acquire Yingde became apparent in January (2017) submitted a letter to the Chinese industrial gas outfit, setting forth a preliminary, non-binding indication of interest to takeover all of its outstanding shares.
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