Radnor—Airgas' board of directors has unanimously rejected Air Products most recent proposal to purchase all outstanding shares of Airgas for $63.50/share (PCN, 12 July 2010, p 2).Air Products' latest offer, representing an increase of $3.50/share from its earlier bid, was rejected because it is "grossly inadequate and an extremely opportunistic attempt to cut off the Airgas stockholders' ability to benefit as the domestic economy continues its recovery," explained Airgas Chairman and Chief Executive Peter McCausland.
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