Buy Side Company:
Air Products & Chemicals Inc.
Sell Side Company:
Yingde Gases Group Company Limited
Air Products & Chemicals Inc. offered to buy China’s biggest producer of industrial gases, joining a wave of consolidation led by Air Liquide SA and Praxair Inc. Air Products, which makes gases such as oxygen, hydrogen and nitrogen, expressed a preliminary, non-binding interest in acquiring Yingde Gases Group Co., subject to conditions. No monetary amount was specified in the Allentown, Pennsylvania-based company’s statement Monday. Yingde said it also received interest from StellarS Capital. The Hong Kong-based company will consider both proposals on Tuesday. The acquisition would sharpen Air Products’ focus on its core gases businesses after last year spinning off the electronics materials unit as Versum Materials Inc. and selling the performance materials unit for $3.8 billion. Buying Yingde also would help Air Products leapfrog rivals in China after France’s Air Liquide acquired Airgas Inc. to expand in the U.S. and Praxair agreed to buy Germany’s Linde AG to create the world’s largest supplier of industrial gases.
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