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Air Liquide’s acquisition of Airgas cleared by FTC

Staff writer |
The U.S. Federal Trade Commission (FTC) has cleared the acquisition of Airgas (NYSE: ARG) by Air Liquide, satisfying the final regulatory condition to the closing of the pending acquisition.

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The companies anticipate closing the acquisition on 23 May 2016, subject to the satisfaction of the remaining customary closing conditions.

The FTC's clearance is subject to certain conditions, to be satisfied following the closing of Air Liquide’s acquisition of Airgas, which Air Liquide has agreed to undertake, including the sale of certain assets. A divestiture package has been prepared and the divestiture process is well underway.

FTC clearance is the last major step towards acquisition closing, and follows the decision by the Committee on Foreign Investment in the United States (CFIUS) on March 10, 2016 that the proposed acquisition poses no national security concerns, and Airgas shareholder approval on February 23, 2016.

As announced on November 17, 2015, combining Air Liquide and Airgas will bring together two highly complementary businesses to deliver greater value, service and innovation to customers in North America and around the world.

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