US Air Products, Airgas execs meet to discuss takeover valuation

04 November 2010 22:50  [Source: ICIS news]

HOUSTON (ICIS)--Senior executives from US industrial gas firms Air Products and Airgas met on Thursday to discuss the value of Airgas, according to a regulatory filing.

Air Products has offered $65.50/share for Airgas in a takeover bid valued at $5.5bn (€3.9bn), while Airgas has said it values itself at $78/share.

In a filing with the US Securities and Exchange Commission (SEC), Airgas said its chief executive, Peter McCausland,  and chairman John van Roden met with Air Products CEO John McGlade and chief financial officer Paul Huck to discuss views on valuation.

No subsequent meetings were scheduled, Airgas said in the filing. The company did not further detail the discussions.

Airgas shares traded down 71 cents, or 1%, to close at $68.60/share on Thursday on the New York Stock Exchange.

($1 = €0.71)

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By: Ben DuBose
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