Airgas (www.airgas.com) has purchased the packaged-gas business of Linde AG for $310 million in cash. The acquisition marks the 355th acquisition by Peter McCausland, Airgas' chief executive officer.

The deal is subject to approval from the Federal Trade Commission.

If approved, the purchase would give Airgas market coverage in the Great Lakes region, and would add 1.2 million cylinders to Airgas' cylinder fleet and $346 million to its revenue. Packaged gas is the distribution of oxygen, nitrogen, argon and other specialty-gas products to customers in small and large cylinders on trucks.