After Airgas unveiled its third quarter earnings for the fiscal year 2016, in which total sales were down 3% due to a “challenging industrial economy,” Peter McCausland, Executive Chairman, didn’t seem fazed. In fact, he impassioned about his company and the impending acquisition of the moment.
On 17th November 2015, it was announced that industrial gas giant Air Liquide, will acquire the fellow Tier One company company, in an all-cash transaction and with a total enterprise value of approximately $13.4bn, including debt assumed.
In the transaction, Airgas will become a wholly-owned subsidiary of Air Liquide. The merger is expected to complete in the second or third quarter of this year and the combined company will undoubtedly create the world’s biggest industrial gas player.
In a series of emotive quotes, in which he expressed his gratitude, he signifies why the time is now right for, arguably, the biggest acquisition in the industrial gas industry in recent years;
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