Air Products/Airgas
Air Products & Chemicals Inc. (NYSE: APD) has tried multiple times to acquire rival Airgas Inc. (NYSE: ARG).
In July 2010, Air Products offered to acquire Airgas for $63.50 per share in cash, up from a prior offer of $60.00 initial sought in February 2010. Airgas rejected this latest overture.
The $63.50 per share offer comes at a premium of 46% over the closing price of Airgas' shares on February 4, 2010, the day before Air Products announced its initial offer.
Air Products took its offer directly to shareholders and initiated a tender offer than is set to expire on August 13, 2010.
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Airgas (ARG) Peers Lower on Sales/Profit Warning
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Atlantic Upgrades AGU, CF to Overweight, Downgrades MON, APD to Neutral
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Jefferies Upgrades, Downgrades, and Tweaks Estimates and Price Targets on Chemical Sector
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KeyBanc Upgrades Airgas (ARG) to Buy; Poised to Return to Its High Growth Form
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Goldman Sachs Reinstates Air Products & Chemicals Inc. (APD) at Neutral
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Deutsche Bank Upgrades Air Products & Chemicals Inc. (APD) to Buy; Closing the Valuation Gap
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Notable ETF Movers of the Day 02/16: (XRT) (USO) (TAN) Higher; (UNG) (VXX) (UUP) Lower
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Jefferies Raises Price Target on Air Products (APD), Maintains Buy Rating
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Notable Mergers and Acquisitions of the Day 02/16: GENZ/SNY, BEE, ARG/APD
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Pre-Open Movers 2/16: (FDO) (VCLK) (DELL) Higher; (TNGN) (DSCO) (OMX) Lower
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Jefferies Upgrades Airgas (ARG) to Buy, Price Target $72
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Air Products (APD) withdraws offer for Airgas (ARG)
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After-Hours Movers 02/15: (FDO) (AAN) (RCKY) (VCLK) (MALL) Higher; (DSCO) (DENN) (LOGM) Lower
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Air Products (APD) loses bid to invalidate Airgas (ARG) takeover defense -Bloomberg
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Air Products (APD) Extends Tender Offer for All Shares of Airgas (ARG)
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P. Schoenfeld Asset Management sent the following letter to the Airgas (ARG) Board
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Trading Radar for 01/21: Bank of America (BAC), General Electric (GE), Schlumberger (SLB), SunTrust (STI) Report
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Air Products (APD) Extends $70/Share Offer for Airgas (ARG)
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Air Products (APD) Extends Tender Offer to Acquire Airgas (ARG)
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Air Products (APD) Responds to Airgas (ARG) $70/Share Bid Rejection; 'Let Shareholders Decide'
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Airgas (ARG) Board Rejects Air Products (APD) $70/Share Bid
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Airgas (ARG) Rejects Revised Offer from Air Products (APD), Cites Offer at $70/share In Cash
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Airgas (ARG) Taps Credit Suisse Securities as Third Independent Advisor
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Newly-Elected Directors Send Letter to Airgas (ARG) Chair van Roden
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Top 10 News Items 12/6-12/10: Chinese IPO's On Fire!; S&P Makes A Plethora of Changes to Indices; AGL, Nicor Announce Major Deal In Nat-Gas Sector
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Airgas (ARG) Says Board Will Review Revised Air Products (APD) Offer