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Why Air Products and Chemicals Shares Are Surging Today

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 ...