A new month brings new developments in the Air Products / Airgas saga. Indeed, just yesterday, Air Products extended the expiration date of its tender offer to acquire Airgas shares.
On 3rd February, Air Products announced that it would extend the expiration date of its tender offer for all outstanding common shares of Airgas, Inc. The new deadline has been moved from 4th February to 15th February and applies to Air Products’ offer to purchase shares for $70.00 per share in cash.
According to Air Products, several million shares of Airgas common stock have already been tendered. As of the close of business on 2nd February 2011, approximately 7,104,590 shares of Airgas common stock had been validly tendered into, and not withdrawn, from the offer.
Throughout this purchase offer, Air Products’ has benefited from the financial advice of J P Morgan Securities LLC and Perella Weinberg Partners. Meanwhile, its legal advisors are Cravath, Swaine and Moore LLP and Arnold & Porter. Finally, Air Products has been calling on the resources of information agent, MacKenzie Partners, Inc.