Air Liquide (Euronext Paris: AI) has completed the acquisition of Airgas, Inc., one of the leading suppliers of industrial gases and associated products and services in the US Globally, the combined businesses will generate annual sales of more than EUR20 billion (more than USD22 billion at current exchange rates), employ approximately 68,000 people around the world, and serve well over three million customers and patients, the company said.
Under the terms of the merger agreement, first announced and unanimously approved by each company´s Board of Directors in November 2015, Airgas shareholders receive USD143 in cash for each share of common stock of Airgas.
In connection with the merger, the Airgas common stock has been delisted from the New York Stock Exchange. Airgas will operate as a subsidiary of Air Liquide within the company´s US operations and, commercially, will go to market as Airgas, an Air Liquide company.
Goldman Sachs and Bank of America Merrill Lynch are acting as financial advisors to Airgas and Wachtell, Lipton, Rosen & Katz is acting as legal advisor to Airgas.
Air Liquide is present in 80 countries with more than 50,000 employees and serves more than 2 million customers and patients.
Airgas supplies industrial, medical and specialty gases, and hardgoods, such as welding equipment and related products in the United States.