Does Air Products (APD) Hostile Bid for Airgas (ARG) Help or Hurt Bigger Rival Praxair (PX)?
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Praxair, Inc. (NYSE: PX) could be one to watch on Air Products (NYSE: APD) hostile bid for Airgas (NYSE: ARG), which came in at a 38% premium.
PX is bigger than both companies with a market cap of $23 billion, versus $15.6 billion for APD and the $5.1 billion bid for ARG.
The news could be viewed as a positive due to the multiple on the offer or as a negative due to the possible merger creating a bigger rival.
Other competitors of Airgas, besides Praxair, are Matheson Tri-Gas and Air Liquide.
Shares of PX are up 1% this morning.
PX is bigger than both companies with a market cap of $23 billion, versus $15.6 billion for APD and the $5.1 billion bid for ARG.
The news could be viewed as a positive due to the multiple on the offer or as a negative due to the possible merger creating a bigger rival.
Other competitors of Airgas, besides Praxair, are Matheson Tri-Gas and Air Liquide.
Shares of PX are up 1% this morning.
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