Airgas Inc. (ARG) announced that its Board has unanimously determined that the unsolicited proposal from Air Products & Chemicals Inc. (APD), very significantly undervalues Airgas and its future prospects and is not in the best interests of Airgas stockholders. The Board rejected the Air Products' proposal after a thorough review and reached its decision after careful consideration with the assistance of its independent financial and legal advisors, the company said. In making its determination that Air Products' February 5, 2010, proposal and its previously rejected $62 per share proposal grossly undervalue Airgas.
For comments and feedback: editorial@rttnews.com