26 October 2010 15:33 [Source: ICIS news]
TORONTO (ICIS)--Airgas said on Tuesday its board was willing to authorise talks on Air Products' unsolicited takeover bid if the offer price was raised to more than $70/share.
Airgas pointed to strong year-on-year profit growth in its most recent quarter, which ended on 30 September.
“This continued outstanding performance is further support for what we have said all along. We expect that Airgas will deliver excellent value for our stockholders and, therefore, if Airgas was to be acquired, Airgas stockholders should be appropriately compensated,” it said.
“Each member of our board believes that the value of Airgas in any sale is meaningfully in excess of $70/share,” it added.
Air Products was not immediately available for comment.
($1 = €0.72)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|