Air Liquide announces agreement to acquire Airgas

Air Liquide, a world leader in gases, technologies and services for industry and health, and Airgas, one of the leading suppliers of industrial gases and associated products and services in the U.S., have announced an agreement under which Air Liquide will acquire Airgas.

Airgas shareholders will receive $143 per share in cash for all outstanding shares of Airgas, representing a total enterprise value of $13.4 billion. In the transaction, Airgas will become a wholly-owned subsidiary of Air Liquide.

“We have the highest respect for Airgas, its organization, its employees and its stakeholders, as well as for what they have achieved over more than 30 years,” said Benoît Potier, chairman and CEO of Air Liquide. “This combination advances Air Liquide’s vision to lead the industry and deliver long-term performance while acting responsibly. It also increases our geographic reach in the resilient U.S. market, and offers continuous growth opportunities.”

Peter McCausland, Executive Chairman of Airgas, said: “Airgas customers and employees will benefit from Air Liquide’s unrivaled global footprint and strength in technology, innovation and operational efficiency, while Airgas is ready to bring the entrepreneurial culture and packaged gas excellence that have driven our success to date. We are excited about the prospects of integrating these two businesses to create the largest industrial gas company in the world.”