US Air Products extends deadline for Airgas bid to August

01 June 2010 23:13  [Source: ICIS news]

HOUSTON (ICIS news)--Air Products has extended the expiration date of its $5.1bn (€4.1bn) takeover bid for Airgas to 13 August from 4 June, the US-based industrial gases major said on Tuesday.

The Airgas board has repeatedly turned away the $60/share cash offer, and in March rejected a request by Air Products to meet and discuss the bid.

Last month, Air Products nominated three executives to the Airgas board for the company's annual shareholder meeting, to be held no later than 17 September.

The total value of the offer is $7.0bn, including $5.1bn of equity and $1.9bn of assumed debt, according to Air Products.

($1 = €0.81)

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By: Ben DuBose
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