Investors Press Airgas To Destagger Board

Law360, New York (August 7, 2013, 3:53 PM EDT) -- Behold the irony of takeover defenses: Airgas Inc., famously saved by its staggered board, has now heard twice from shareholders that they want it gone, while Air Products & Chemicals Inc., the hostile bidder thwarted by a poison pill, now seeks protection in one.

Airgas shareholders on Tuesday approved a proposal to require the company's directors to stand for election every year, rather than every three years. The measure received 57.4 percent of shares voted, down from the 64 percent an identical measure received last year....
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