Airgas to finance BOC gas business acquisition with debt

By Sara Rosenberg

New York, Jan. 29 - Airgas Inc. intends to finance the $200 million acquisition of the U.S. packaged gas business of BOC Group "entirely with debt," company officials said during a conference call on Thursday.

However, financing plans have not yet been finalized as the company is looking at "a lot of alternatives," officials added in the call.

The acquisition, which is subject to customary closing conditions and applicable regulatory approvals, is expected to close in mid 2004.

Airgas is a Radnor, Pa., distributor of industrial, medical and specialty gases, and welding, safety and related products.

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