During a telephone conference, barely hours ago, John McGlade, Air Products Chairman, President and CEO, reiterated that the company was “done” with its attempt to purchase outstanding Airgas, Inc. shares.
Moreover, Air Products plans to sell its shares and move forward with global growth.
In an unequivocal statement, McGlade said, “Let me get right to the point. Based on the Delaware Chancery Court Ruling, we have withdrawn our offer for Airgas and we’re moving on. We will not appeal this decision.”
“This shouldn’t come as a surprise to anyone as we’ve been disciplined in our approach and clear in our position from the start. We made a best and final offer of $70 per share and the Airgas board still will not let the Airgas shareholders decide for themselves whether they wanted to accept that offer.”
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