XLB - Why Air Products and Chemicals Shares Are Surging Today | Benzinga
Air Products and Chemicals, Inc. (NYSE:APD) shares are trading higher today. Aramco has agreed to acquire a 50% stake in its Blue Hydrogen Industrial Gases Company (BHIG).
In particular, Saudi Arabia’s largest oil company, Aramco, inked definitive deals to acquire a stake in BHIG, which is based in Jubail and a subsidiary of Air Products Qudra (APQ).
After the transaction, Aramco and APQ, a joint venture of Air Products and Qudra Energy, will each own 50% of BHIG.
The transaction is contingent on standard closing conditions and includes provisions for ...