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Tuesday, February 8, 2011

Judge to rule in coming days in Airgas saga, (NYSE: APD), (NYSE: ARG)

Air Products and Chemicals Inc (APD.N) will know in the coming days if rival Airgas Inc (ARG.N) is legally allowed to use an anti-takeover measure to prevent being acquired, a Delaware judge said on Tuesday. William Chandler heard closing arguments in a lawsuit brought by Air Products to sweep away Airgas's use of a "poison pill" defense and acquire the company for $5.9 billion. Chandler declined to give his thinking on the issue. Last month he said he might offer guidance after closing arguments, but said he decided against that after hearing an entire day's worth of final comments.

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