Airgas Inc. (ARG) monday issued a statement regarding the third extension by Air Products & Chemicals, Inc. (APD)of its unsolicited tender offer, stating that the company's Board of Directors continues to believe that Air Products' unsolicited tender offer is extremely opportunistic and does not fairly compensate Airgas stockholders for Airgas' extraordinary track record, outstanding recent results, increased earnings guidance, excellent future prospects or unique strategic position in the industry.
The company said the holders of nearly 80% of Airgas shares have chosen not to tender, notwithstanding Air Products' intensive efforts to get Airgas stockholders to tender by the August 13, 2010, expiration date.
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