Following a hostile takeover bid five years ago by Air Products and Chemicals Inc. and a drawn-out poison pill defense, industrial gas distribution giant Airgas Inc. has secured a deal to be acquired by Paris-based Air Liquide S.A. for $10.3 billion.
Announced Tuesday, the deal will see Air Liquide pay 75 percent more to shareholders of Radnor, Pennsylvania-based Airgas than they would have received from Air Products back in 2010, as noted earlier this week by The Am Law Daily. Including debt, the current deal is valued at $13.4 billion.
