Air Products Presiding Director William Davis Testifies

Posted by msch on Jan 25, 2011 10:46:00 AM

Air Products Presiding Director William DavisIn 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.

Mr. Davis also stated his belief that most of the Airgas stock had been acquired by arbitrageurs (arbs) who had acquired their stock for less than $70 and would accept a $70 price.

CVN is webcasting Air Products v. Airgas live.

Topics: Securities, Air Products v. Airgas