AI Air Liquide SA

Air Liquide SA agreed to buy U.S.-based Airgas Inc. in a deal valued at $10.3 billion that would strengthen the French industrial-gas leader's position in North America.

Bloomberg reported the negotiations earlier Tuesday, citing people familiar with the discussions. Including debt, the deal is valued at $13.4 billion.

Under the deal's terms, Air Liquide would pay Airgas shareholders $143 a share. Shares of Airgas recently jumped 29% to $137.16.

The deal, unanimously approved by the companies' respective boards, is subject to regulatory and Airgas shareholders' approval.

Based in Paris, Air Liquide has operations in 80 countries and supplies customers across a swath of sectors, from the steel industry to the pharmaceuticals to hydrogen-recharging stations for cars. With its Americas' headquarters in Houston, Air Liquide has more than 140 industrial gas plants in the U.S.

In 2014, Air Liquide reported €15.4 billion in revenue.

Radnor, Pa.-based Airgas is one of the largest suppliers of industrial, medical and specialty gases in the U.S. and one of the largest producers of atmospheric gases, including oxygen, nitrogen and argon. For the year ended March 31, it reported $5.30 billion in sales, with the bulk of its operations focused on the U.S.

Write to Maria Armental at maria.armental@wsj.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

(END) Dow Jones Newswires

November 17, 2015 15:05 ET (20:05 GMT)

Air Liquide (EU:AI)
Historical Stock Chart
From Mar 2024 to Apr 2024

Air Liquide (EU:AI)
Historical Stock Chart
From Apr 2023 to Apr 2024