Air Products Increases Airgas Buyout Offer

RADNOR, Pa. -- Airgas, Inc. recently noted that Air Products & Chemicals, Inc. has announced a revised tender offer to acquire all outstanding common shares of Airgas at a price of $70.00 per share in cash. Consistent with its fiduciary duties and as required by applicable law, the Airgas Board of Directors will review the revised tender offer to determine the course of action that it believes is in the best interests of the Company and its stockholders.

RADNOR, Pa. -- Airgas, Inc. recently noted that Air Products & Chemicals, Inc. has announced a revised tender offer to acquire all outstanding common shares of Airgas at a price of $70.00 per share in cash.

Consistent with its fiduciary duties and as required by applicable law, the Airgas Board of Directors will review the revised tender offer to determine the course of action that it believes is in the best interests of the Company and its stockholders. Airgas stockholders are advised to take no action at this time pending the review of the revised offer by the Airgas Board of Directors.
Bank of America Merrill Lynch and Goldman, Sachs & Co. are serving as financial advisors, and Wachtell, Lipton, Rosen & Katz is serving as legal counsel to Airgas and its Board of Directors.

About Airgas, Inc.

Airgas, Inc. (NYSE: ARG), through its subsidiaries, is the largest U.S. distributor of industrial, medical, and specialty gases, and hardgoods, such as welding equipment and supplies. Airgas is also one of the largest U.S. distributors of safety products, the largest U.S. producer of nitrous oxide and dry ice, the largest liquid carbon dioxide producer in the Southeast, and a leading distributor of process chemicals, refrigerants, and ammonia products.

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