NEW YORK Air Products and Chemicals Inc (APD.N) on Wednesday said it extended its $5.5 billion hostile tender offer for rival industrial gas company Airgas Inc ARG.N until December 3.
Airgas has rejected Air Products $65.50-a-share cash bid, and said earlier this week that it is willing to negotiate a buyout by Air Products at a price greater than $70 per share, or $5.86 billion.
Air Products' offer was scheduled to expire on October 29.
Airgas shares closed at $70.80 on the New York Stock Exchange on Wednesday.
(Reporting by Michael Erman. Editing by Robert MacMillan)