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Air Liquide, Airgas merger completed, will generate $22bn

Staff writer ▼ | May 23, 2016
Air Liquid has completed the acquisition of Airgas, one of the leading suppliers of industrial gases and associated products and services in the U.S.
Acquisition   Three million customers and patients
Globally, the combined businesses will generate annual sales of more than €20 billion (more than $22 billion), employ approximately 68,000 people around the world, and serve well over three million customers and patients.

Benoît Potier, chairman and CEO of Air Liquide, said: "We are very pleased to have successfully closed our acquisition of Airgas, which will contribute to our strategy of profitable growth over the long term. There is strong industrial and market logic to this acquisition, which ideally positions Air Liquide for future growth."

Peter McCausland, executive chairman of Airgas, said: "Today’s history-making transaction is the culmination of more than 30 years of growth and value that we have steadfastly delivered to Airgas shareholders – it is a proud moment."

Under the terms of the merger agreement, first announced and unanimously approved by each company's board in November 2015, Airgas shareholders receive $143 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 U.S. operations and, commercially, will go to market as Airgas, an Air Liquide company.