Airgas's Executive Chairman Making Nearly $220 Million On His Stock In One Day

Airgas Inc. Executive Director Peter McCausland would know if Air Liquide's $13.4 billion buyout deal is "compelling" for Airgas shareholders, because he owns 9.5% of the industrial gas company's shares outstanding, which makes him the largest shareholder, according to FactSet. He owned 7,083,572 Airgas shares as of May 19, 2015, according to the latest filings. With the stock soaring $30.78, or 29%, in afternoon trade, McCausland could be making about $218 million in one day. At the stock's all-time intraday high of $139, hit earlier in the session, McCausland could have been making $232.5 million. "This transaction is compelling for our shareholders, arising from the persistent execution of our business strategy for more than three decades," McCausland said in the statement announcing the deal. "We look forward to working closely with Air Liquide to complete the transaction and achieve a smooth transition."