Airgas Inc. has just announced that, based on a preliminary vote count provided by its proxy solicitor following the Annual Meeting of Stockholders, it appears that stockholders have elected Air Products’ three nominees to the Airgas Board of Directors.
Additionally, the company is keen to point out, Airgas also announced that more than a majority of the shares represented and voted at the meeting, but less than 67% of the outstanding shares appear to have voted in favour of Air Products’ by-law amendment proposals.
Is this the first step towards a deal between the two companies? Announcing today’s development, Airgas issued the following statement:
‘While we are disappointed with the outcome of today’s vote regarding the election of Directors, we appreciate the consideration and support of our stockholders.’
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