The takeover battle for Airgas will continue to run on as both sides await a decision from the Delaware Chancery Court on the company’s poison pill. On Tuesday, Air Products and Chemicals said it would extend its tender offer through Dec. 17. The offer — for all outstanding shares of Airgas at $65.50 a share [...]
The legal victory won by Air Products and Chemicals on Friday evening in its battle with Airgas was accompanied by some last-minute drama in Delaware Chancery Court. Earlier that Friday, Chancellor William B. Chandler III had made some remarks that arguably could have been interpreted as supporting Airgas’s claims. Some arbitragers certainly interpreted it as [...]
Despite some last-minute chatter in arbitrage circles that Airgas had turned the corner and a very good presentation by Ted Mirvis of Wachtell, Lipton, Rosen & Katz, Air Products and Chemicals won an important decision in Delaware Chancery Court late Friday in its takeover quest for Airgas. Chancellor William B. Chandler III ruled that a [...]
The 3M Company’s tender offer for Cogent expires Thursday at midnight. It is going to be a nail-biter. The path for completion of the tender offer was cleared in Delaware Chancery Court on Tuesday with a decision by Vice Chancellor Donald F. Parsons Jr. The vice chancellor found that the motion brought by the Cogent [...]
There is not much question about the outcome of a hearing on a preliminary injunction to block the Dollar Thrifty Automotive Group’s deal with Hertz Global Holdings. I watched the first hour of the hearing in Delaware Chancery Court on Wednesday, courtesy of Courtroom View Network, and my opinion from that time is that Vice [...]
Shareholders opposed to the takeover of the Dollar Thrifty Automotive Group by Hertz Global Holdings have accused Goldman Sachs bankers of working on both sides of the transaction, giving Hertz an edge over a rival bid from the Avis Budget Group, according to a lawsuit filed in Delaware Chancery Court. The lawsuit, which is seeking [...]
Twitter
Facebook