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Air Products Drops Pursuit Of Yingde Gases Stake

Law360, New York (March 24, 2017, 4:40 PM EDT) -- Air Products and Chemicals Inc. on Friday took itself out of the running to buy fellow industrial gases supplier Yingde Gases Group Co. Ltd., potentially opening the door for PAG Asia Capital to try to complete the HK$4.8 billion ($618.2 million) acquisition of a controlling stake in Yingde.

The decision was revealed via a short Form 8-K filed Friday with the U.S. Securities and Exchange Commission.

“Air Products announced that it has determined it is not in the best interests of Air Products’ shareholders to continue...
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