Regulatory News:
Airgas (NYSE:ARG) shareholders, during a special shareholder
meeting held earlier today, voted to approve the previously
announced acquisition of Airgas, one of the leading suppliers of
industrial gases and associated products and services in the United
States, by Air Liquide (Paris:AI) (Euronext Paris: AI), world
leader in gases, technologies and services for Industry and Health.
75.9% of the total outstanding shares of Airgas common stock and
99.5% of the total shares voted were in favor of the transaction.
The affirmative vote of a simple majority of outstanding Airgas
shares was required to approve the merger.
Once the acquisition is completed, the combined entity will be
the largest industrial gas company in the world with leadership in
North America complementing its number one positions in Europe,
Africa/Middle East and Asia-Pacific. Bringing together two highly
complementary businesses will deliver greater value, service and
innovation to customers around the world.
Peter McCausland, Executive Chairman of Airgas, said: “I
thank our shareholders for their trust and support. The transaction
with Air Liquide is very compelling and we are excited to move
forward with the process to create the largest industrial gas
company in the world. The combined company will improve existing
offerings and open new markets, benefiting both companies’
customers and employees. We look forward to continuing to work
closely with Air Liquide to complete the transaction and achieve a
smooth transition.”
Benoît Potier, Chairman and CEO of Air Liquide, said:
“This approval is a significant milestone as we move closer to
completing our acquisition of Airgas. The transaction will deliver
substantial benefits to both companies’ stakeholders and will
further solidify our ambition to be the leader in our industry,
delivering long-term performance and acting responsibly. We look
forward to a successful future with Airgas.”
Assuming timely receipt of the necessary antitrust and other
regulatory approvals, and satisfaction of all closing conditions,
the parties continue to expect to complete the merger in the second
or third calendar quarter of 2016.
Airgas files annual, quarterly and current reports, proxy
statements and other information, including the principal documents
relating to this transaction, with the SEC. Such filings are
available to the public free of charge from the SEC website at
http://www.sec.gov/edgar/searchedgar/webusers.htm.
More information about Air Liquide announcing agreement to
acquire Airgas can be found here:
https://www.airliquide.com/investors/cautionary-note-regarding-forward-looking-statements
About Air Liquide
World leader in gases, technologies and services for Industry
and Health, Air Liquide is present in 80 countries with more than
50,000 employees and serves more than 2 million customers and
patients. Oxygen, nitrogen and hydrogen have been at the core of
the company’s activities since its creation in 1902. Air Liquide’s
ambition is to be the leader in its industry, delivering long-term
performance and acting responsibly.
Air Liquide ideas create value over the long term. At the core
of the company’s development are the commitment and constant
inventiveness of its people.
Air Liquide anticipates the challenges of its markets, invests
locally and globally, and delivers high-quality solutions to its
customers and patients, and the scientific community.
The company relies on competitiveness in its operations,
targeted investments in growing markets and innovation to deliver
profitable growth over the long-term.
Air Liquide’s revenues amounted to € 16.4 billion in 2015 and
its solutions that protect life and the environment represented
more than 40% of sales. Air Liquide is listed on the Paris Euronext
stock exchange (compartment A) and is a member of the CAC 40 and
Dow Jones Euro Stoxx 50 indexes.
For more information, please visit www.airliquide.com.
About Airgas
Airgas, Inc. (NYSE:ARG), through its subsidiaries, is one of the
leading suppliers of industrial, medical and specialty gases, and
hardgoods, such as welding equipment and related products in the
United States. Airgas is a leading U.S. producer of atmospheric
gases with 16 air separation plants, a leading producer of carbon
dioxide, dry ice, and nitrous oxide, one of the largest U.S.
suppliers of safety products, and a leading U.S. supplier of
refrigerants, ammonia products, and process chemicals.
Approximately 17,000 associates work in more than 1,100 locations,
including branches, retail stores, gas fill plants, specialty gas
labs, production facilities and distribution centers. Airgas also
markets its products and services through e-Business, catalog and
telesales channels. Its national scale and strong local presence
offer a competitive edge to its diversified customer base.
Airgas revenues amounted to $5.3 billion in 2015 (fiscal year
ending March 31, 2015).
For more information, please visit www.airgas.com
Cautionary Note Regarding Forward-Looking Statements
This document contains certain statements that are
“forward-looking statements” within the meaning of Section 27A of
the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934, as amended. L’Air Liquide S.A. (“Air
Liquide”) and Airgas, Inc. (“Airgas”) have identified some of these
forward-looking statements with words like “believe,” “may,”
“could,” “would,” “might,” “possible,” “will,” “should,” “expect,”
“intend,” “plan,” “anticipate,” or “continue,” the negative of
these words, other terms of similar meaning or the use of future
dates. Forward-looking statements in this release include without
limitation statements regarding the expected timing of the
completion of the transactions described in this press release, Air
Liquide’s operation of Airgas’ business following completion of the
contemplated transactions, and statements regarding the future
operation, direction and success of Airgas’ businesses. Such
statements are qualified by the inherent risks and uncertainties
surrounding future expectations generally, and actual results could
differ materially from those currently anticipated due to a number
of risks and uncertainties. Risks and uncertainties that could
cause results to differ from expectations include: uncertainties as
to the timing of the contemplated transactions; the possibility
that the closing conditions to the contemplated transactions may
not be satisfied or waived, including that a governmental entity
may prohibit, delay or refuse to grant a necessary regulatory
approval; the effects of disruption caused by the announcement of
the contemplated transactions making it more difficult to maintain
relationships with employees, customers, vendors and other business
partners; the risk that stockholder litigation in connection with
the contemplated transactions may affect the timing or occurrence
of the contemplated transactions or result in significant costs of
defense, indemnification and liability; other business effects,
including the effects of industry, economic or political conditions
outside of the control of the parties to the contemplated
transactions; transactions costs; actual or contingent liabilities;
and other risks and uncertainties discussed in Airgas’ filings with
the U.S. Securities and Exchange Commission (the “SEC”), including
the “Risk Factors” sections of Airgas’ most recent annual report on
Form 10-K. You can obtain copies of Airgas’ filings with the SEC
for free at the SEC’s website (www.sec.gov). Neither Air Liquide
nor Airgas undertakes any obligation to update any forward-looking
statements as a result of new information, future developments or
otherwise, except as expressly required by law. All forward-looking
statements in this announcement are qualified in their entirety by
this cautionary statement.
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version on businesswire.com: http://www.businesswire.com/news/home/20160223006657/en/
Air LiquideMedia RelationsCaroline Philips, +33
(0)1 40 62 50 84orInvestor Relations, +33 (0)1 40 62 51
50orAir Liquide USAMichael Rosen, +1-
713-624-8023orAirgasMedia RelationsSarah Boxler,
+1-610-263-8260sarah.boxler@airgas.comorInvestor
RelationsJoseph Marczely,
+1-610-263-8277joseph.marczely@airgas.com
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