Airgas, Inc. Shareholders Alert - Investigation of Air Products & Chemicals, Inc offer
Investigation on behalf of investors of Airgas, Inc. (Public, NYSE:ARG) shares over possible breach of fiduciary duty – Contact the Shareholders Foundation
An investigation on behalf of current investors in Airgas, Inc. (Public, NYSE:ARG), who purchased ARG shares before February 05, 2010, over potential breaches of fiduciary duty and other violations of state law in connection with an alleged unfair takeover price was announced.
If you are currently an investor in shares of Airgas, Inc. (Public, NYSE:ARG), and purchased the shares before December 2009, you have certain options and you should contact the Shareholders Foundation at:
The investigations by law firms focus on potential breaches of fiduciary duty and other violations of state law arising out of the offer to sell Airgas, Inc. (Public, NYSE:ARG) to Air Products & Chemicals, Inc. On February 05, 2010 Air Products & Chemicals, Inc. (Public, NYSE:APD) announced that it has made an offer to acquire Airgas, Inc. (NYSE: ARG) for $60.00 per share in cash, or a total transaction value of approximately $7.0 billion, including $5.1 billion of equity and $1.9 billon of assumed debt. According to Air Products (NYSE: APD) the offer of $60.00 per share provides a 38% premium to Airgas shareholders based on yesterday’s closing price of $43.53 and is 18% above Airgas’ 52-week high.
Since the Airgas' Board of Directors previously rejected Air Products' December 2009 proposal to acquire Airgas, Inc. for approximately $62 per share in cash and stock, and Air Products' current proposal provides per share consideration of $60 per share in cash, the investigation by a law firm concludes that “the transaction appears to be unfair” to current investors of Airgas, Inc. (Public, NYSE:ARG) because the “offer to purchase Airgas, Inc. (ARG) appears opportunistically timed to take advantage of the current economic downturn” and is “grossly unfair, inadequate, and substantially below the fair or inherent value of ARG”.
Airgas, Inc. reported in 2007 Total Revenue of $4.01702billion with a Net Income of $223.35million and in 2008 Total Revenue of $4.349.45billion with a Net Income of $261.09million. Shares of Airgas, Inc. (ARG) traded after the announcement at over $60.50 per share and almost $62 per share. ARG shares traded before the news at about $45 per share, and over $62 per share in 2008.
The investigation “concerns whether the offer of Air Products & Chemicals, Inc represents a breach of fiduciary duties to Airgas, Inc. ( NYSE:ARG) stockholders and whether Air Products & Chemicals, Inc. is underpaying for Airgas, Inc. (Public, NYSE:ARG) shares, thus unlawfully harming ARG stockholders.”
Those who currently are investors in shares of Airgas, Inc. (Public, NYSE:ARG), and purchased the shares before December 2009, have certain options and should contact the Shareholders Foundation at:
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423 -
92108 San Diego
Tel:+1-(858)-779-1554
Fax:+1-(858)-605-5739 mail@shareholdersfoundation.com www.ShareholdersFoundation.com
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Advertising. The Shareholders Foundation, Inc. is an investor advocacy group. We do research related to shareholder issues and inform investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. At Shareholders Foundation, Inc. we are in contact with a large number of shareholders. We believe that together we can combine the interests of many investors, and use the size of our interest as leverage against the giant corporations. We offer help, support, and assistance for every shareholder. We help investors find answers to their questions and equitable solutions to their problems. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon
