Airgas Sues To Nix Rival's Takeover-Friendly Bylaw

Law360, New York (September 16, 2010, 6:53 PM EDT) -- In the latest move to stave off a hostile takeover by Air Products and Chemicals Inc., Airgas Inc. has filed suit to invalidate a bylaw passed by Airgas shareholders that reschedules the 2011 shareholder meeting, hastening Air Products' chance of pulling off its $5.5 billion bid.

After Air Products succeeded Wednesday in replacing three Airgas directors with its own candidates and passing the Air Products-proposed bylaw, Airgas and the six remaining company directors filed suit in the Delaware Chancery Court to strike down the rulemaking because...
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