The Firm is representing JPMorgan as lender and as financial advisor to Air Products in its offer to acquire Airgas, Inc. for $60 per share in cash. The bid represents a 38% premium to Airgas shareholders based on the February 4 closing price of $43.53. The total value of the transaction is approximately $7 billion including $5.1 billion of equity and $1.9 billion of assumed debt.
Air Products, based in Allentown, Pa., serves customers in industrial, energy, technology and healthcare markets world-wide with a portfolio of atmospheric gases, process and specialty gases, performance materials, and equipment and services.
The Simpson Thacher team includes: Rob Spatt, Mario Ponce, Anthony Vernace, Bianca Bowen (M&A) and Frank Huck, Jessica Tuchinsky and Parijat Sharma (Banking & Credit).