Air Liquide and Airgas, a leading supplier of industrial gases and associated products and services in the U.S., announced an agreement under which Air Liquide will acquire Airgas for $13.4 billion. As a result of the transaction, Pennsylvania-based Airgas will become a wholly-owned subsidiary of France’s Air Liquide. The acquisition gives Air Liquide, a world leader in gases and technologies, a greater presence in the U.S. market and positions the company for future growth. The combined entity will be able to better serve customers with the most advanced multi-distribution networks in the U.S. and more competitive product offerings thanks to an integrated upstream-downstream model.