Airgas Inc. (ARG) rejected rival Air Products & Chemicals Inc.’s (APD) $5.1 billion takeover offer, saying it significantly undervalues the company and isn’t in the best interest of shareholders.
Airgas’s shares slid 1.3% to $60.55 in after-hours trading Tuesday. The stock closed at $43.53 Thursday before the $60 offer was made. Air Products finished at $67.95 [...]