Air Products & Chemicals, Inc. v. Airgas, Inc.

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• holding that the board complied with its fiduciary duties by maintaining a rights plan to protect a higher stand-alone value of corporation rather than permit an immediate sale
• noting that no insurgent had ever achieved a 67% vote and that polling votes at this level was not realistically attainable
• noting that no insurgent had ever achieved a 67% vote and that polling votes at this level was not realistically attainable
• finding reasonableness of takeover response was “bolstered” by the fact that activist directors on the target board agreed that the takeover response was appropriate
• finding reasonableness of takeover response was “bolstered” by the fact that activist directors on the target board agreed that the takeover response was appropriate
• applying enhanced scrutiny after trial when determining whether to order the redemption of a rights plan

Source: CourtListener parenthetical corpus (CC0).