Last week, Airgas Inc., Radnor, PA, (NYSE: ARG) received an unsolicited proposal from Air Products & Chemicals Inc. (NYSE: APD) to acquire the company in an all-cash deal for $60 a share. In a written response to Air Products CEO John McGlade, Airgas said: "… Air Products’ proposal grossly undervalues Airgas. Therefore, the Board is not interested in pursuing your company’s proposal and continues to believe that there is no reason to meet."
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