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Air Liquide to buy Airgas in $13.4 billion deal

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Staff writer ▼ | November 18, 2015
Air Liquide of France said it will buy U.S. Airgas in a $13.4 billion deal including debt that will boost its footprint in the U.S. market.
Acquisition   A premium of 50.6 percent
The cash offer represented a premium of 50.6 percent to Airgas’one-month average share price, before the announcement of the transaction, and a premium of 20.3 percent over Airgas’ 52-week-high share price.

The deal, accretive to earnings from the first year, will yield more than $300 million of pre-tax cost, efficiency and volume synergies, the majority within two to three years.

"This acquisition increases our geographic reach in the resilient U.S. market, and offers continuous growth opportunities," Air Liquide Chairman and CEO Benoit Potier said.

The acquisition of Airgas, the industry leader in U.S. packaged gases, will notably increase Air Liquide's Gas & Services sales by around 30 percent.