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Thursday, 26 May 2016

Air Products needs to pump up its Airgas bid

Pumping up Airgas

The $5.1 bln unsolicited advance comes at a 38 percent premium but Airgas can get more. The net present value of forecast synergies gives room to raise the bid. And hostile precedents, such as KraftCadbury, suggest holding out could be worth another $8 a share.

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