Air Liquide to Buy Airgas for $13.4 Billion in Cash

The Air Liquide factory in Moissy Cramayel, France.

Photographer: Fabrice Dimier/Bloomberg

France’s Air Liquide SA agreed to buy U.S. rival Airgas Inc. for an enterprise value of $13.4 billion to form the world’s biggest supplier of industrial gases.

Air Liquide will pay $143 per share for Airgas in an all-cash deal, the Paris-based company said in a statement Tuesday.

“This acquisition increases our geographic reach in the resilient U.S. market,” Air Liquide Chief Executive Officer Benoit Potier said in the statement.

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