Air Products extends tender offer for Airgas

NEW YORK (BestGrowthStock) – Air Products and Chemicals Inc (APD.N: ) on Wednesday said it extended its $5.5 billion hostile tender offer for rival industrial gas company Airgas Inc (ARG.N: ) until December 3.

Airgas has rejected Air Products $65.50-a-share cash bid, and said earlier this week that it is willing to negotiate a buyout by Air Products at a price greater than $70 per share, or $5.86 billion.

Air Products’ offer was scheduled to expire on October 29.

Airgas shares closed at $70.80 on the New York Stock Exchange on Wednesday.

(Reporting by Michael Erman. Editing by Robert MacMillan)

Air Products extends tender offer for Airgas