Air Products “strongly recommends” tendering of Airgas shares and nomination support


In anticipation of the 2010 Annual Meeting of Airgas, Inc. Air Products has commenced mailing to Airgas shareholders.
The correspondence encourages shareholders to vote in favour of Air Products’ director nominees and also to tender their shares into the Air Products offer of $63.50 per share, which expires 13th Friday.
John McGlade, Air Products’ Chairman, President and Chief Executive Officer, said, “We have made a sincere effort to engage in discussions with Airgas but the Airgas Board continues to refuse to even meet with us or our financial advisors regarding our fully financed $63.50 per share all-cash offer. The board has also declined to form a special committee of independent directors to evaluate the offer.”
He continued, “We strongly recommend Airgas shareholders send a clear message to the Airgas Board to meet with us by tendering their shares before August 13 and by using the GOLD proxy card to vote for our three highly qualified board nominees and our additional proposals at the Airgas Annual Meeting.”
Yesterday, the company filed definitive proxy materials with the Securities and Exchange Commission (SEC) for the 2010 Annual Meeting of Airgas which is scheduled to take place on 15th September. Within this, Air Products asks shareholders to elect three nominees to the Airgas Board; John P Clancey, Robert L Lumpkins and Ted B Miller, Jr.

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