Air Liquide’s planned acquisition of Airgas remains on track

Global gases and technologies group Air Liquide and Airgas, the leading supplier of packaged gases and associated products and services in the US, announced the date of the special meeting of Airgas’ shareholders to approve Air Liquide’s pending acquisition of Airgas.

This special meeting is scheduled to take place on February 23, 2016.

The transaction, which was unanimously approved by each of Air Liquide’s and Airgas’ boards of directors prior to its announcement, is expected to close following approval by Airgas shareholders, receipt of necessary antitrust and other regulatory approvals, as well as additional customary closing conditions.

Both companies say they are pleased with the progress made to date, and the pending transaction is progressing as expected.

• On January 22, 2016, Airgas filed its definitive proxy statement relating to the special meeting of its shareholders to obtain approval of the acquisition (a simple majority of the outstanding shares of Airgas is required). The special meeting is scheduled to take place on February 23, 2016.
  
  
• Both Air Liquide and Airgas are actively engaged with the US Federal Trade Commission (FTC) in connection with the proposed acquisition of Airgas. The parties are cooperating fully with the FTC’s investigation, including by providing information requested in the FTC’s "second request".
  
  
• Assuming timely receipt of the required regulatory clearances and satisfaction of other closing conditions, the parties continue to expect to complete the merger in the second or third calendar quarter of 2016.
  
  
• The bridge financing, initially underwritten by Barclays Bank PLC and BNP Paribas, has been syndicated among a large group of international banks, who have longstanding working relationships with Air Liquide. The loan agreement was signed on December 17, 2015.

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