In Air Products v. Airgas, today's second witness, Air Products' presiding director William Davis, testified that he was not aware of any instances in which a board of directors viewed its offer as adequate and yet nonetheless removed the company's defenses so as to facilitate the offer.
The first witness to testify in the Air Products v. Airgas trial webcast live by CVN was Air Products CFO Paul Huck, who has led the acquisition effort for Air Products.
The Wall Street Journal said that the upcoming Air Products v. Airgas trial would deliver "one of the most significant [corporate law] decisions in a generation, one that could could affect the balance of power between boards and shareholders."
In Kahn v. Student Loan Corporation, Vice-Chancellor Travis Laster refused to enjoin Citi Group's sale of Student Loan Corporation (SLC) for $600M. Citi owned 80% of SLC.