Air Products & Chemicals

Air Products & Chemicals (APD) has raised its bid for Airgas (ARG) to $65.50 a share in an all-cash offer. The latest offer represents a 50% premium above Airgas' closing stock price on Feb. 4, the day prior to Air Products submitting its first acquisition plan, Air Products said Monday in a written statement.

After losing in court, renegade investor Ron Burkle is poised to launch a proxy contest for Barnes & Noble that will be tinged by animosity between Burkle and B&N founder and chairman Leonard Riggio.

Given the need big companies have to find growth and the availability of credit, no wonder hostile takeovers are sprouting. Air Products' $5.1 billion grab for Airgas would create a powerhouse in the liquid bulk gas market, but Airgas isn't likely to play along with that plan.