Airgas Inc. (ARG) said Thursday morning that its board of directors would review Air Products & Chemicals Inc. (APD) unsolicited tender offer but noted that the proposal was "identical in all material respects" to one already rejected.

Airgas stockholders were advised to take no action pending the review, which is required by law.

Earlier on Thursday, Air Products announced that it would take its $60 a share offer directly to the shareholders of its smaller rival Airgas.

On Tuesday, Airgas' board rejected an $5.1 billion takeover offer from Air Products.

-By Susan Daker, Dow Jones Newswires; 713-547-9208; susan.daker@dowjones.com
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