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It was announced today Febraury 5, that Air Products and Chemicals, a producer of industrial gases, made an unsolicited $5.1B offer for Airgas, Inc. after having been rebuffed for months, The New York Times’s Michael J. de la Merced reported.

If Air Products’ latest offer is rejected, the company is prepared to wage a hostile bid, including by staging a proxy fight, people briefed on the matter told The New York Times.

The offer, worth about $60 a share, represents a 38% premium to Airgas’s closing share price of $43.53 on Thursday and an 18 percent premium over its 52-week high of $51. Including debt, the Air Products’ offer is valued at about $7B.

Read the full story at: dealbook.blogs.nytimes.com

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