Purchase of Stock, Air Products & Chemicals, Inc., made a tender offer of $70 per share to
Question:
Purchase of Stock, Air Products & Chemicals, Inc., made a tender offer of $70 per share to the shareholders of Airgas, Inc. The Airgas board rejected the offer as inadequate and took defensive measures to block the bid. Some Airgas shareholders filed a suit against Airgas, seeking an order to compel the board to allow the shareholders to decide whether to accept Air Products' offer. Who should have the power to accept or reject a tender offer? Why? How can director's best fulfill their duty to act in the interest of their shareholders?
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Tender otter involves purchasing all or some of the shares of the shareholders pertaining to a corpo...View the full answer
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Related Book For 
Business Law and the Legal Environment
ISBN: 978-1111530600
6th Edition
Authors: Jeffrey F. Beatty, Susan S. Samuelson, Dean A. Bredeson
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