A meeting to confirm Air Liquide’s pending acquisition of Airgas has been scheduled for 23rd February 2016.
The conference is expected to seal the deal following approval from Airgas shareholders, receipt of necessary antitrust and other regulatory approvals, as well as additional customary closing conditions.
The Tier One players expect to complete the merger in the second or third quarter of this year, assuming prompt approval of the required regulatory clearances and satisfaction of other closing conditions.
In the transaction, representing a total enterprise value of $13.4bn, Airgas will become a wholly-owned subsidiary of Air Liquide.
The coalition was unanimously approved by each of the industrial gases company’s Boards of Directors, and on 22nd January 2016, Airgas filed its definitive proxy statement to obtain approval of the acquisition.
Specific companies were not disclosed, but Air Liquide’s loan agreement, signed on 17th December 2015, has been syndicated by a large group of international banks who have longstanding working relationships with Air Liquide.
Following the news that Air Liquide has made an offer of $143 per share, valuing Airgas at $13.4bn, gasworld Business Intelligence investigates as to whether this will result in a successful acquisition.
Air Liquide has signed a long-term contract with Chinese outfit Xinneng Energy Company, a subsidiary of ENN Ecological Holdings Company (ENN), to invest millions of euros in it’s Light Hydrocarbon Project.
Month on month, the gasworld website is the market-leading news portal for the global industrial gas sector, growing at an unprecedented rate and keeping its readers at the forefront of breaking news, insightful analysis and must-see features across the industry. Launched in 2004 and continually evolving, it is the only independent online news, views and intelligence portal for the global industrial gas community and the larger end-user markets – and home to the ever-increasing range of gasworld platforms.
To find out more about gasworld's advertising opportunities click here.