Legal Opinion
Airgas, Inc. v. Air Products & Chemicals, Inc.
Supreme Court of Delaware
Decided November 23, 2010No. 649, 2010PublishedCited by 52 opinions
1Opinion of the Court
RIDGELY, Justice:
Air Products and Chemicals, Inc. (“Air Products”) and Airgas, Inc. (“Airgas”) are competitors in the industrial gas business. Air Products has launched a public tender offer to acquire 100% of Airgas’s shares. The Airgas board of directors has received and rejected several bids from Air Products, including its latest offer that valued Airgas at $5.5 billion, because the board determined that each offer undervalued the company. During this entire attempted takeover period, the market price of Airgas stock exceeded Air Products’ offers.
To facilitate its takeover attempt, Air…
2Cases cited20 opinions
- Appriva Shareholder Litigation Co. v. Ev3, Inc.Supreme Court of Delaware · 2007
- Hibbert v. Hollywood Park, Inc.Supreme Court of Delaware · 1983
- Waggoner v. LasterSupreme Court of Delaware · 1990
- At&T CORP. v. LillisSupreme Court of Delaware · 2008
- Centaur Partners, IV v. National Intergroup, Inc.Supreme Court of Delaware · 1990
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3Cited by52 opinions
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- Boilermakers Local 154 Retirement Fund v. Chevron Corp.Court of Chancery of Delaware · 2013
- Hamilton Partners, L.P. v. EnglardCourt of Chancery of Delaware · 2010
- Carsanaro v. Bloodhound Technologies, Inc.Court of Chancery of Delaware · 2013
- RAA Management, LLC v. Savage Sports Holdings, Inc.Supreme Court of Delaware · 2012
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