Airgas Rejects Air Products’$70/Share Offer

摘要

Airgas says its board of directors has unanimously rejected Air Products’ most recent acquisition offer of $70/share. All three of Airgas’ financial advisors, one of which was specially requested by the three directors who were nominated by Air Products, advised against accepting the deal. “The board unanimously concluded that the $70/share offer is clearly inadequate and that the value of Airgas in a sale, at this time, is at least $78/share, in light of the board’s view of relevant valuation metrics,” Airgas says. Last week, those three directors had specifically noted to the rest of the board that they did not agree with its $78/share valuation. Air Products has not yet commented on the rejection, but previously said that $70/share was its best and final offer.