Paris-based Air Liquide has agreed to acquire Airgas Inc., Radnor, PA, for $10.3 billion, making the company the largest industrial gases and welding hardgoods distributor in the world. With debt, the deal is valued at $13.4 billion.

Air Liquide called the acquisition "game-changing" as it "strengthens Air Liquide’s global leadership position, offers new opportunities to Airgas’ customers and delivers significant value to shareholders."

Airgas is No. 2 on the 2015 MDM Market Leaders Top Gases & Welding Equipment Distributors list. The company reported 2014 revenues of $5.1 billion, up 2.3 percent from the previous year. It has more than 16,000 employees at 1,100 locations. Air Liquide reported 2014 revenues of €15.4 billion (US$16.4 billion).

Stay tuned to www.mdm.com for more on this deal.