Airgas' ARG -0.3%) board rejects the hostile $5.3B takeover bid by Air Products & Chemicals...

Airgas' ARG -0.3%) board rejects the hostile $5.3B takeover bid by Air Products & Chemicals (APD +0.1%), saying the revised bid still "grossly" undervalues the company. Air Products says it will continue to ask shareholders to tender their shares and will attempt to place three directors on Airgas' board at the next shareholder meeting. (PR)