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A new No.1, a new leader has emerged~~ Air Liquide’s acquisition of Airgas is complete; a new world leader in the industrial gases industry has been established. On May 23, 2016, in Paris, Air Liquide, a world-leading provider of gases, technologies, and services, announced the completion of its acquisition of Aigas, a gas company with operations in the United States and around the world. This merger increases Air Liquide’s sales volume to 20 billion euros (22 billion dollars), with 68,000 employees worldwide and over 3 million customers served. http://o6s3zj1vc.bkt.clouddn.com/image/AL/20160523/acquisition-airgas-deal-content.jpg Image source: https://www.airliquide.com/group/airgas-strong-industrial-market-logic. Taken in November 2015 in New York, at the time Air Liquide announced the acquisition, by Air Liquide CEO Benoît Potier and Airgas Executive Chairman Peter McCausland. Air Liquide CEO Benoît Potier said: We are very pleased to have completed this acquisition, as it is in line with our strategy for long-term growth. Regarding this acquisition, the industry and the market have provided us with solid reasons to ensure the continued growth of Air Liquide. The businesses of the two companies complement each other highly; this transaction, through its unique multi-channel distribution network, reaches customers across the entire United States. Since Airgas was founded 30 years ago, Peter McCausland has successfully turned it into one of the major gas companies in the country. I would like to thank him for his leadership, dedication, and achievements. For all Air Liquide’s shareholders, this transaction demonstrates the company’s great potential. On this exciting day for the group, let us welcome our colleagues from Airgas and embark on this new chapter together with them. http://o6s3zj1vc.bkt.clouddn.com/image/AL/20160523/airgas.jpg Peter McCausland, CEO of Airgas, said: Today is a historic day; this acquisition represents the pinnacle of our 30-year journey and also demonstrates our success in sharing our value with shareholders. It is a moment of great pride. For Airgas, the future looks very bright: over 1 million customers, along with our employees, are contributing to the expansion of Air Liquide’s global operations as well as to the enhancement of its technical and innovative capabilities, while Airgas will continue to maintain its commitment to the products it offers, the services it provides, and its corporate culture. Thank you to our customers, shareholders, and all those who have placed their trust in Airgas’ future over the years. http://o6s3zj1vc.bkt.clouddn.com/image/AL/20160523/5awLjR3.png Under the relevant merger and acquisition agreement, with the consent of the shareholders of both parties in November 2015, Airgas’ shareholders received a cash payment of $143 per share. As a result of this merger, Airgas’ ordinary shares will be delisted from the New York Stock Exchange, while Aigas will operate in the United States as a subsidiary of Air Liquide. The Airgas brand will still be used for business purposes, but it will be part of Air Liquide’s corporate structure. Strategic considerations, along with strong support from the industry and market, underpin this acquisition, enabling the group to achieve long-term growth and value creation. This has enabled Air Liquide to expand its market share in the United States, making it the largest gas company in the world and serving millions of customers across the globe. Due to the complementary nature of the two companies’ businesses, the merger will lead to greater efficiency in production and the supply chain. By leveraging Air Liquide’s new technologies and products, Airgas can accelerate the development of its business infrastructure. This transaction also brings access to one of the most advanced multi-channel distribution networks in the United States, including capabilities for e-commerce and telemarketing. This acquisition is expected to generate significant synergies. In the preparations leading up to its completion, synergies in the industrial, administrative areas, as well as those resulting from an increased scale, are expected to generate over $300 million in pre-tax revenue; such revenue could be generated over the next two to three years, and detailed plans have already been developed. This merger will bring significant potential value to Air Liquide’s shareholders, customers, and employees. It will enable the delivery of exceptional value, services, and innovative products to customers across North America and around the world; thanks to Air Liquide’s advanced products and innovation capabilities, the scope of services offered to customers will be further expanded. At the same time, it represents a great opportunity for employees to join a globally expanding organization with sustained growth. This acquisition strengthens Air Liquide’s leading position worldwide. With its completion, Air Liquide becomes the leader in North America, Europe, the Middle East/Africa, and the Asia-Pacific region, while also emerging as a key player in various industries such as large-scale manufacturing, electronics, and healthcare.