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Air Liquide Shares Gain on Buyout Speculation

Shares of Air Liquide, the world's second-biggest maker of industrial gases, surged Tuesday on market talk about a possible bid for the company.

Buyout firm Kohlberg Kravis Roberts & Co. "is the name everyone is talking about," said David Buik of Cantor Index. "The is the kind of business that probably would fit very snugly into KKR."

New York-based KKR could not be immediately reached for comment.

Shares in Air Liquide closed higher by 1 percent to 97.44 euros ($139.15) in Paris.

Air Liquide said in April that it posted revenue of 2.79 billion euros ($3.79 billion) in the first quarter, up from 2.77 billion euros in the same period a year earlier. The company also said then that it had agreed to buy engineering company Lurgi from GEA Group in a deal valuing the business at $745.5 million (547.2 million euros) to strengthen its position in the hydrogen market.