Walking on Air
Wachtell and the takeover defense bar see Airgas as the ultimate vindication.
Air Products and Chemicals, Inc., lost two groundbreaking battles during the hostile takeover bid for rival specialty gas maker Airgas, Inc., that it launched in October 2009. The first was a direct attack on the poison pill: The bidder argued that the vaunted takeover defense strategy, invented by Martin Lipton of Wachtell, Lipton, Rosen & Katz, can be used for only a limited time frame. Foiling this attack generated splashy headlines—"Wachtell Saves Marty's Baby"—but it was always a bit of a sideshow because Wachtell, which defended the target Airgas on every front, never thought that the result was in doubt.
This content has been archived. It is available exclusively through our partner LexisNexis®.
To view this content, please continue to LexisAdvance®.
Not a LexisAdvance® Subscriber? Subscribe Now
LexisNexis® is now the exclusive third party online distributor of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® customers will be able to access and use ALM's content by subscribing to the LexisNexis® services via LexisAdvance®. This includes content from the National Law Journal®, The American Lawyer®, Law Technology News®, The New York Law Journal® and Corporate Counsel®, as well as ALM's other newspapers, directories, legal treatises, published and unpublished court opinions, and other sources of legal information.
ALM's content plays a significant role in your work and research, and now through this alliance LexisNexis® will bring you access to an even more comprehensive collection of legal content.
For questions call 1-877-256-2472 or contact us at firstname.lastname@example.org