Today's News

Airgas, Inc., large distributor of safety products, faces hostile takeover bid (2/9)

Airgas, Inc., one of the nation’s largest distributors of safety products and the largest U.S. distributor of industrial, medical and specialty gases, has confirmed that it has received an unsolicited proposal from Air Products & Chemicals, Inc. (NYSE: APD) (“Air Products”) to acquire the company for $60.00 per share.

In a press statement, the company said Airgas’ board of directors will review the proposal with its financial and legal advisors. Airgas shareholders are advised to take no action at this time.

More than 14,000 Airgas employees work in over 1,100 locations, including branches, retail stores, gas fill plants, specialty gas labs, production facilities, and distribution centers. Third quarter 2009 sales were $942 million, a decline of 13% from the prior year.

The company noted that in December 2009 Airgas received a cash and stock proposal from Air Products with an implied value of $62 per share, and that in October 2009 Airgas received an all-stock proposal from Air Products with an implied value of $60 per share. Airgas’ Board of Directors, after consultation with its financial and legal advisors, unanimously determined that Air Products’ proposals were not in the best interests of Airgas or its shareholders, as they grossly undervalued Airgas. In responding to the proposal received in December, the Board also noted that a significant portion of the consideration was in the form of Air Products stock, which has historically underperformed Airgas stock.

Did you enjoy this article? Click here to subscribe to ISHN.

You must login or register in order to post a comment.



Image Galleries

Scenes from the World of Safety

Sights, signs & symbols from the National Safety Congress & Expo held in San Diego, CA, September 15-18

3/31/15 11:00 am EST

Changes to NFPA 70E® – What You Need to Know

NFPA ® for Electrical Safety in the Workplace is revised every three years, providing the most up-to-date requirements for safe work practices to reduce exposure to electrical hazards. This program analyzes several significant changes in 70E ® and is designed to clarify the reasoning behind the changes, and assist in determining how the changes impact employees and employers.

ISHN Magazine


2015 March

Check out ISHN's March issue, which features articles about moisture wicking technology, toxic gas detection and fall protection.

Table Of Contents Subscribe


M:\General Shared\__AEC Store Katie Z\AEC Store\Images\ISHN\safetyfourth.jpg
Safety Engineering, 4th Edition

A practical, solutions-driven reference, Safety Engineering, 4th edition, has been completely revised and updated to reflect many of today’s issues in safety.

More Products

For Distributors Only - January 2015



For Distributors Only is ISHN's niche brand standard-sized magazine supplement aimed at an audience of 2,000 U.S. distributors that sell safety products. Circulation only goes to distributors. 



Facebook logo Twitter YouTubeLinkedIn Google + icon

ishn infographics

2012 US workplace deathsCheck out ISHN's new Infographic page! Learn more about worker safety through these interactive images. CLICK HERE to view the page.