空气产品(NYSE: APD) today issued the following statement in response to the rejection by the Board of Directors of Airgas, Inc. (NYSE: ARG) of Air Products' fully financed tender offer for all the outstanding common shares of Airgas, Inc. for $60.00 per share all in cash:
“不幸的是，Airgas再次阻止其股东获得38％的全现金溢价和立即流动性的股份。AirProducts每股60.00美元的全股All Cash提供不仅消除了未来公司绩效或经济状况的任何风险，但也将为Airgas股东创造比单独实现更多的价值。即使假设Airgas可以实现其高度乐观的2013/2014财务预测，或其新发现的2012年预测，今天的每股60.00美元，今天的现金远远超过了现在这两个预测的价值。现在是时候听取Airgas股东并要求Airgas的独立董事组成一个独立顾问的特别委员会，该委员会将客观地评估我们的报价。Air Products仍致力于追求我们的60.00美元现金报价和$将采取所有必要步骤来完成它。”
Air Products认为，Airgas在新闻稿和日程安排中所做的主张
它向SEC提交的14d-9被误导了，反映了关于Air Products对Airgas的意图和计划的错误信息，并对Airgas的股东产生了误导。等等：
• Airgas Claim: The offer grossly undervalues Airgas.
Airgas没有提供任何新的东西 - 没有新的计划或策略来增强股东价值超出其现有前景 - 在过去的四个月中，Airgas两次降低了股东。Airgas在公开声明中始终将市场向后指向市场。另一方面，空气产品为Airgas股东提供了直接的价值和流动性。
•Airgas声称：要约及其时机是极具机会主义的。
在不确定的市场中，在52周高高的现金溢价几乎不是机会主义。Airgas试图在Air Products的门上进行最新性能的尝试应由其股东拒绝。Airgas股东获得可重新部署的大量现金保费的时机，因为股东认为合适。深度衰退的Airgas指出的是接受而不是拒绝某些价值的原因。
• Airgas Claim: The offer is highly uncertain and any payments made to Airgas stockholders would be considerably deferred… Air Products fails to commit to make the necessary divestitures…
空气产品没有北美包装的天然气业务。空气产品已反复，一贯致力于进行适当的剥离以实现反托拉斯清除 - 相反，Airgas的声明是错误的。Airgas而非空气产品根据未来绩效的承诺为其股东提供不确定性和递延价值。
•Airgas声称：该提议非常广泛的条件使其虚幻。
Air Products的招标条件是习惯的，并且要与Airgas进行谈判 - 如果Airgas选择与Air Products进行建设性对话。空气产品致力于关闭招标报价。
• Airgas Claim: Air Products has employed highly aggressive tactics.
Airgas关于战术的言论（1）公开拒绝了Air Products的反复尝试，以超过五个月的时间与Airgas寻求友好，建设性的对话，（2）开始针对Air Products的40年以上的Air Production诉讼，并且（3）当Airgas保留并继续雇用Air Products的董事会顾问Goldman Sachs时，充电Air Production的财务顾问会发生冲突。Airgas必须为其股东提供的不仅仅是言语和诉讼，才能获得比Air Products的全现金优惠要约所提供的价值更大的价值。
• Airgas Claim: Air Products' acquisition of Airgas will likely reduce value… This is particularly concerning if Air Products again revises its offer to include stock.
空气产品is offering an all-cash premium to Airgas's stockholders, a fact which Airgas seeks to ignore and confuse. Airgas' repeated claim that its shares have outperformed Air Products' shares is neither accurate nor relevant to Airgas shareholders' consideration of a $60.00 per share all-cash offer. Airgas has refused to sit down and become informed regarding Air Products' plans for Airgas. Air Products urges Airgas to come to the table in a constructive dialogue that would clearly serve its stockholders better than continued delay.
At $60.00 per share in cash, the Air Products offer provides Airgas shareholders a 38% premium to Airgas' closing price of $43.53 on February 4, 2010, the last trading day prior to public disclosure of the Air Products offer, and is 18% above Airgas' previous 52-week high. Air Products has secured committed financing from J.P. Morgan, and the offer is not conditioned on financing. As previously stated in writing, Air Products is prepared to make appropriate divestitures to address regulatory issues in a timely manner.
The offer is conditioned on there being validly tendered and not withdrawn at least a majority of the total number of Airgas shares outstanding on a fully diluted basis, Airgas' Board of Directors redeeming or invalidating its "poison pill" shareholder rights plan, and receipt of regulatory approvals and customary closing conditions as described in the Offer to Purchase. Air Products' Offer to Purchase, Letter of Transmittal and other offering documents have been filed with the U.S. Securities and Exchange Commission. Airgas' stockholders may obtain copies of all of the offering documents free of charge at the SEC's website:www.sec.gov