Air Products and Chemicals Inc. - Acquisition of Airgas, Inc.
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A Compass Lexecon team led by Mary Coleman and Loren Poulsen assisted Air Products' outside counsel, headed by Deborah Feinstein from Arnold & Porter, LLP, in obtaining FTC approval for Air Products's hostile acquisition of Airgas. Mary Coleman made several presentations to the Federal Trade Commission outlining the economic evidence showing that the acquisition would not likely have any anticompetitive effects in various gas distribution segments. The transaction was then approved by the FTC subject to an agreed upon divestiture of overlapping air separation facilities and micro bulk distribution assets. Air Products later dropped its bid for non-antitrust reasons.