Wachtel Lipton's Ted Mirvis told the Delaware Supreme Court this morning in the oral arguments for Airgas v. Air Products that shareholders and directors can advance an annual meeting date, but not without limits, and not, as in this case, to set two annual meetings within four months, during the same fiscal year, with no new results or financial statements to review, but only to achieve the early removal of a staggered board director.

The Delaware Supreme Court has approved CVN's media application to webcast live the oral araguments before the Delware Supreme Court in Airgas' appeal of the decision of Hon. Chancellor William B. Chandler III, in Air Products v. Airgas.

In Air Products v. Airgas, Wachtell Lipton's Ted Mirvis urged the Delaware Chancery Court to declare invalid the Airgas by-law calling for a January shareholders meeting. Mirvis argued that two meetings four months apart could not actually both be "annual meetings." "Annual" means a year apart, not just in different calendar years.

The Air Products v. Airgas trial returned to "public" mode this afternoon with the testimony of Airgas COO Michael Molinini, who discussed the commercial gas business, and Airgas' competitors.

Airgas CEO Peter McCausland took the stand Tuesday afternoon in Airgas v. Air Products. Mr. McCausland testified that he never asked whether the offer on the table was Air Products' "best and final," and he did convey that Airgas was essentially not for sale.