On Feb. 15, 2011, Chancellor William B. Chandler III of the Delaware Court of Chancery issued his ruling in the epic takeover battle between Air Products & Chemicals, Inc. and Airgas, Inc.
Air Products & Chemicals, Inc. v. Airgas, Inc.
The <i>Airgas</i> decision confirms the previous 25 years of Delaware case law upholding the use and maintenance of poison pills by independent boards acting in good faithin response to legitimate threats posed by hostile bidders.
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