Airgas urges stockholders to reject Air Products’ offer. Yesterday, the company sent a further letter out to stockholders in a last minute effort to dissuade them from accepting the Air Products’ offer to buy outstanding shares – the offer expires on 13th August.
The letter also encouraged shareholders to vote for the Board’s director nominees by submitting the white proxy card by telephone, internet or post. Again, the correspondence described Air Products’ recent tender revision as a ‘grossly inadequate price.’