Mergers and acquisitions form an important part of our industry’s growth, but sometimes there are some major surprises…
Industrial gas professionals have been glued to their internet enabled phones lately as the Air Products proposed takeover of Airgas drama continues to get more and more interesting; this being a ‘hot’ topic, it seemed only right to explore the highs and lows of a situation which is practically on fire as gasworld went to press.
On 5th February, after two ‘private’ approaches had been rejected by Airgas, Air Products announced it had made a public offer directly to shareholders, to acquire Airgas for $60.00 per share in cash – a deal worth around $7bn in total. Having initially taken a friendly approach, Air Products has decided to turn hostile.
The offer was promptly rejected by Airgas, which claims it ‘significantly undervalues’ the company and its future prospects, and is not in the best interests of Airgas shareholders.
... to continue reading you must be subscribed
