LEHIGH VALLEY, Pa.,
Oct. 27 /PRNewswire-FirstCall/ -- Air
Products (NYSE: APD) today announced that it has extended the
expiration date of its tender offer for all outstanding common
shares of Airgas, Inc. (NYSE: ARG) for $65.50 per share in cash. The offer and
withdrawal rights are now scheduled to expire at 12:00 midnight
New York City time on December 3, 2010, unless further extended. The
tender offer was previously scheduled to expire on October 29, 2010.
Except for the extension of the tender offer expiration date,
all other terms and conditions of the offer remain unchanged. As of
the close of business on Tuesday, October
26, 2010, approximately 1,884,427 shares of Airgas common
stock had been validly tendered into and not withdrawn from the
offer.
Airgas' stockholders may obtain copies of all of the offering
documents free of charge at the SEC's website (www.sec.gov) or by
directing a request to MacKenzie Partners, Inc., the Information
Agent for the offer, at 212-929-5500 or toll-free at 800-322-2885.
Additional information about the transaction, including the
offering documents, is also available at
www.airproducts.com/airgasoffer.
Air Products' financial advisors are J. P. Morgan Securities
Inc. and Perella Weinberg Partners, its legal advisors are Cravath,
Swaine & Moore LLP and Arnold & Porter, and its information
agent is MacKenzie Partners, Inc.
Air Products (NYSE: APD) serves customers in industrial, energy,
technology and healthcare markets worldwide with a unique portfolio
of atmospheric gases, process and specialty gases, performance
materials, and equipment and services. Founded in 1940, Air
Products has built leading positions in key growth markets such as
semiconductor materials, refinery hydrogen, home healthcare
services, natural gas liquefaction, and advanced coatings and
adhesives. The company is recognized for its innovative culture,
operational excellence and commitment to safety and the
environment. In fiscal 2010, Air Products had revenues of
$9 billion, operations in over 40
countries, and 18,300 employees around the globe. For more
information, visit www.airproducts.com.
ADDITIONAL INFORMATION
On February 11, 2010, Air Products
Distribution, Inc. ("Purchaser"), a wholly owned subsidiary of Air
Products and Chemicals, Inc. ("Air Products"), commenced a cash
tender offer for all the outstanding shares of common stock of
Airgas, Inc. ("Airgas") not already owned by Air Products, subject
to the terms and conditions set forth in the Offer to Purchase
dated as of February 11, 2010 (the
"Offer to Purchase"). The purchase price to be paid upon the
successful closing of the cash tender offer is $65.50 per share in cash, without interest and
less any required withholding tax, subject to the terms and
conditions set forth in the Offer to Purchase, as amended. The
offer is scheduled to expire at midnight, New York City time, on Friday, December 3, 2010, unless further extended
in the manner set forth in the Offer to Purchase.
This communication does not constitute an offer to buy or
solicitation of an offer to sell any securities. The tender offer
is being made pursuant to a tender offer statement on Schedule TO
(including the Offer to Purchase, a related letter of transmittal
and other offer materials) filed by Air Products with the U.S.
Securities and Exchange Commission ("SEC") on February 11, 2010. INVESTORS AND SECURITY
HOLDERS OF AIRGAS ARE URGED TO READ THESE AND OTHER
DOCUMENTS FILED WITH THE SEC CAREFULLY IN THEIR ENTIRETY BECAUSE
THEY CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED
TRANSACTION. Investors and security holders can obtain free
copies of these documents and other documents filed with the SEC by
Air Products through the web site maintained by the SEC at
http://www.sec.gov. The Offer to Purchase and related materials may
also be obtained for free by contacting the Information Agent for
the tender offer, MacKenzie Partners, Inc., at 212-929-5500 or
toll-free at 800-322-2885.
Air Products intends to file a proxy statement with the SEC in
connection with the solicitation of proxies for the annual meeting
of Airgas stockholders to be held on January
18, 2011. Any definitive proxy statement will be
mailed to stockholders of Airgas. INVESTORS AND SECURITY HOLDERS
OF AIRGAS ARE URGED TO READ THE PROXY STATEMENT AND OTHER
DOCUMENTS RELATED TO THE SOLICITATION AND FILED WITH THE SEC
CAREFULLY IN THEIR ENTIRETY AS THEY BECOME AVAILABLE BECAUSE
THEY WILL CONTAIN IMPORTANT INFORMATION. Investors and security
holders will be able to obtain free copies of these documents (if
and when available) and other documents filed with the SEC by Air
Products through the web site maintained by the SEC at
http://www.sec.gov. These materials may also be obtained for
free (if and when available) by contacting Air Products' proxy
solicitor, MacKenzie Partners, Inc., at 212-929-5500 or toll-free
at 800-322-2885.
CERTAIN INFORMATION REGARDING PARTICIPANTS
Air Products, Purchaser, and certain of their respective
directors and executive officers and the Air Products nominees for
election at Airgas's January 2011
annual meeting may be deemed to be participants in the proposed
transaction under the rules of the SEC. Security holders may obtain
information regarding the names, affiliations and interests of Air
Products' directors and executive officers in Air Products' Annual
Report on Form 10-K for the year ended September 30, 2009, which was filed with the SEC
on November 25, 2009, and its proxy
statement for Air Products' 2010 Annual Meeting, which was filed
with the SEC on December 10, 2009;
and of Purchaser's directors and executive officers in the Offer to
Purchase. Information about the Air Products nominees will be
included in the proxy statement Air Products intends to file with
the SEC. These documents can be obtained free of charge from the
sources indicated above. Additional information regarding the
interests of these participants in the proxy solicitation and a
description of their direct and indirect interests, by security
holdings or otherwise, will also be included in any proxy statement
and other relevant materials to be filed with the SEC when they
become available.
SOURCE Air Products
Copyright . 27 PR Newswire