Airgas Inc. founder Peter McCausland, who built the company into the largest U.S. distributor of industrial gases through almost 450 acquisitions, will be replaced as chief executive officer by Michael L. Molinini.
Airgas Inc., the largest U.S. distributor of industrial gases, said it’s interested in acquiring the U.S. operations of Taiyo Nippon Sanso Corp. as part of a decades-long trend of consolidating the industry.
Bank of America Corp. , the biggest U.S. bank by assets and deposits, delayed foreclosures after a federal regulator called for a review because lenders may have submitted defective documents when repossessing homes.
The U.S. economy grew at a 3.1 percent annual rate in the third quarter, more than previously reported, reflecting the first gain in state and local government spending in three years, more consumer purchases and a smaller trade gap.
Airgas Inc. , the packaged-gas maker fighting a $5.4 billion hostile takeover bid, promised shareholders a chance to replace most of the board by June if they don’t force the company to hold such a vote in January.
Airgas Inc . won an appeals court ruling that may derail a $5.5 billion hostile takeover bid from Air Products & Chemicals Inc. , which has been pursuing the industrial-gas company for more than a year.
Wall Street’s mergers and acquisitions machine is recovering from its recession doldrums, raising the old question of whether the takeovers investment banks foster do anything more than make companies bigger and harder to manage. Schlumberger Ltd. this week said it would buy oil-field services rival Smith International Inc. for about $11 billion and, according to Bloomberg News, Thermo Fisher Scientific Inc . is offering about $6 billion for Millipore Corp., adding biotechnology customers to its market for laboratory equipment.