Headlines

U.S. securities regulators are probing unusual activity in Airgas Inc. (ARG.N) call options before a $5.1B offer for the industrial gas company was announced, a person familiar with the probe said on Wednesday, February 10.

Air Products and Chemicals launched an unsolicited $60-a-share cash bid for Airgas on  February 5, prompting Airgas' shares to jump as much as 44 percent to $62.63. Shares of Airgas closed at  $61.17 on the New York Stock Exchange on Wednesday.

But before the takeover bid was announced, a burst of activity in a few select Airgas call options occurred, fueling suspicion that the news was leaked ahead of time and was used to profit on a potential spike in Airgas' stock.

Read the full story at: reuters.com

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