Air Liquide and Airgas announced an agreement under which Air Liquide will acquire Airgas. Airgas shareholders will receive USD143 per share in cash for all outstanding shares of Airgas, representing a total enterprise value of USD13.4 billion on a fully diluted basis and including the assumption of Airgas debt.

The transaction represents a premium of ＋50.6％ to Airgas’ one month average share price, prior to the announcement of the transaction, and of ＋20.3% over Airgas’ 52-week high share price.

In the transaction, Airgas will become a wholly-owned subsidiary of Air Liquide.