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February 9, 2010
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| 17:29 EDT |  | APD |
| theflyonthewall.com: | Airgas board rejects unsolicited proposal from Air Products | | Airgas (ARG) announced that its board has unanimously determined that the unsolicited proposal from Air Products & Chemicals (APD), announced on February 5, very significantly undervalues Airgas and its future prospects and is not in the best interests of Airgas stockholders. The board rejected the Air Products’ proposal after a thorough review and reached its decision after careful consideration with the assistance of its independent financial and legal advisors. :theflyonthewall.com |
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| 09:00 EDT |  | APD |
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| 08:13 EDT |  | APD |
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| 06:44 EDT | | APD |
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| 06:23 EDT |  | APD |
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February 8, 2010
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| 09:00 EDT | | APD |
| theflyonthewall.com: | On The Fly: Analysts Downgrade Summary | | MOST NOTEWORTHY: Dun & Bradstreet (DNB), Metro Bancorp (METR) and Airgas (ARG) were today's noteworthy downgrades: JP Morgan downgraded Dun & Bradstreet to Neutral from Overweight to reflect a lack of positive catalysts. The firm lowered its target price on shares to $80 from $87. Janney Montgomery downgraded Metro Bancorp to Neutral from Buy following the company's Q4 results and lowered its target price on shares to $14 from $20. Baird downgraded Airgas to Neutral from Outperform. The firm believes the proposed acquisition by Air Products (APD) will get done...OTHER DOWNGRADES: Petrohawk Energy (HK) was downgraded to Market Perform from Outperform at Bernstein. AMB Property (AMB) was lowered to Neutral from Outperform at Credit Suisse. St. Jude Medical (STJ) was downgraded to Conviction Sell from Sell at Goldman. :theflyonthewall.com |
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| 07:27 EDT | | APD |
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| 07:17 EDT | | APD |
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| 05:46 EDT | | APD |
| theflyonthewall.com: | Airgas receives notice of shareholder lawsuit regarding Air Products offer | | Law Offices of Howard G. Smith announces that it is investigating potential claims against the board of directors of Airgas (ARG) related to the proposed acquisition of Airgas by Air Products & Chemicals (APD). The proposed transaction is valued at approximately $7B, including assumed debt. Under the terms of the offer, Air Products would acquire Airgas for $60.00 per share in cash. The offer provides a premium of 38% to the closing share price of Airgas on February 4, 2010, the last trading day prior to the announcement of the offer. Previously, in October 2009, Airgas received an all-stock proposal from Air Products with an implied value of $60 per share, and in December 2009 Airgas received a cash-and-stock proposal from Air Products with an implied value of $62 per share. Both offers were rejected by the Airgas board of directors. The investigation concerns possible breaches of fiduciary duty and other violations of law related to rejection of the offers by the Airgas board of directors. :theflyonthewall.com |
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February 7, 2010
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| 21:47 EDT | | APD |
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February 5, 2010
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| 16:23 EDT | | APD |
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| 12:06 EDT | | APD |
| theflyonthewall.com: | On The Fly: U.S. Mid-Day Market Wrap-Up | | Stocks on Wall Street are again lower as debt issues in several European countries escalate and job losses in the U.S. increased more than expected in January even though the unemployment fell to 9.7% from 10%, the lowest level since last August...The Dow is down 48.67 to 9,953.51, the NASDAQ is down 2.04 to 2,123.39, and the S&P is down 5.35 to 1,057.76...Crude oil and gold prices are lower...MARKET NEWS: Airgas (ARG) has rejected two offers by Air Products & Chemicals (APD) which may now take its $5.1B cash offer directly to Airgas shareholders...MAJOR MOVERS: Among the most active stocks are Bank of America (BAC), Ford (F), Cisco (CSCO), Intel (INTC), and Sirius XM Radio (SIRI). :theflyonthewall.com |
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| 10:42 EDT |  | APD |
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| 09:50 EDT | | APD |
| theflyonthewall.com: | Air Products shares defended at Citigroup | | :theflyonthewall.com |
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| 09:43 EDT |  | APD |
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| 09:27 EDT | | APD |
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| 09:15 EDT | | APD |
| theflyonthewall.com: | Air Products downgraded to Neutral from Buy at Buckingham | | :theflyonthewall.com |
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| 08:00 EDT |  | APD |
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| 07:54 EDT | | APD |
| theflyonthewall.com: | Airgas shares should be bought on the open, says Soleil | | Soleil recommends buying Airgas (ARG) shares on the open as it believes Air Products (APD) will need to raise its offer to get the deal done or that the company will receive competing offers from Air Liquide or Linde. The firm views Air Liquide or Linde as more logical buyers for Airgas than Air Products. :theflyonthewall.com |
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| 07:50 EDT | | APD |
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| 07:41 EDT | | APD |
| theflyonthewall.com: | Airgas confirms the receipt of unsolicited proposal from Air Products | | Airgas (ARG) confirmed that it has received an unsolicited proposal from Air Products & Chemical (APD) to acquire the company for $60.00 per share. Airgas’ board will review the proposal with its financial and legal advisors. Airgas shareholders are advised to take no action at this time. The Company noted that in December 2009 Airgas received a cash and stock proposal from Air Products with an implied value of $62 per share, and that in October 2009 Airgas received an all-stock proposal from Air Products with an implied value of $60 per share. Airgas’ Board of Directors, after consultation with its financial and legal advisors, unanimously determined that Air Products’ proposals were not in the best interests of Airgas or its shareholders, as they grossly undervalued Airgas. In responding to the proposal received in December, the Board also noted that a significant portion of the consideration was in the form of Air Products stock, which has historically underperformed Airgas stock. :theflyonthewall.com |
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| 06:22 EDT | | APD |
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| 05:51 EDT | | APD |
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