Airgas, Inc. has released details of correspondence exchanges between members of its Board of Directors.
Prior to the meeting of Airgas board of Directors, which was held on 10th December 2010, the three recently elected directors sent a letter to John C van Roden, Jr.
Thereafter, at the December meeting, the nine independent directors selected a third financial advisor to represent the full Board of Directors and the Board agreed to reimburse the recently elected directors for certain expenses of legal counsel.
The original letter was sent by John P Clancy, Robert L Lumpkins and Ted B miller, Jr. in which they stated, “We expect that Air Products will raise its offer and accordingly believe we need to put ourselves in the position to evaluate any improved offer on an independent, fully formed basis.$quot;
Airgas, Inc filed an amendment to its schedule 14D-9, disclosing that the nine indpendent directors on the Airgas Board of Directors have selected Credi Suisse Securities (LLC), as a third independent financial advisor to the Airgas Board of Directors.