Prior to Air Products’ decision to completely revoke its purchase attempt of Airgas, Airgas responded to the recent court ruling.
Delaware Chancery Court recently announced its ruling to uphold the Airgas Stockholder Rights Plan.
The Court’s Order stated, “Plaintiff Air Products’ and the Shareholder Plaintiffs’ requests for relief are DENIED in their entirety, and all claims asserted against the current and former Defendants in these actions are DISMISSED WITH PREJUDICE.”
Airgas Chief Executive Officer Peter McCausland responded positively to the ruling. He said, “We are pleased with the Chancery Court’s ruling, which is consistent with established Delaware precedent. Airgas’ Stockholder Rights Plan has been in place since 1987 and is an important element of our corporate governance structure.”
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