Deals
Air Products Boosts Airgas Buyout Bid to $5.3 Billion
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Air Products & Chemicals Inc., the industrial-gases producer attempting a hostile takeover of Airgas Inc., raised its offer by 5.8 percent to $5.3 billion in an effort to win more shareholder support.
Air Products will pay $63.50 cash for each Airgas share, compared with the $60 originally offered, the Allentown, Pennsylvania-based company said today in a statement. That represents a 46 percent premium over the closing price on Feb. 4, the day before the bid was publicly announced.