半數以上的票數在Airgas在德雷克塞爾山,賓夕法尼亞州,今天舉行的年度會議支持在1月18日,另一次會議,使空氣化工產品公司被提名人有機會在4個月的董事會的控制權。 Airgas行政總裁彼得麥考斯蘭在接受采訪時說,這次會議的建議是無效的。 The company today challenged it in Delaware Chancery Court.該公司今天在美國特拉華州衡平法院挑戰它。
Airgas上升百分之3.6至67.16美元在紐約交易,這意味著投資者預計將有1提供比空氣產品公司的65.50美元出價更高。 Air Products raised the offer from $63.50 last week and said it would end its pursuit of Airgas unless investors voted for its proposals at the meeting.空氣化工產品公司提出的63.50美元報價從上周表示,將結束其Airgas除非投資者在會議上的提案投贊成票的追求。
“像Airgas現在看來已經沒有選擇的友好協議,但談判一說,”萊昂內爾梅爾卡,一個在伯恩海姆德雷福斯和誰管理,包括Airgas公司股票在巴黎資產套利的投資者。 He said he expects a friendly deal at $70 or $72 a share.他說,他預計在70美元,或每股72美元的友好協議。 “The 'just say no' defense is no longer viable.” “這就是剛才說沒有的防守不再是可行的。”
空氣化工產品上漲1.17美元,或1.5個百分點,至81.38美元為4:15在紐約證交所交易時。
The final results of the vote will be released after being tabulated and certified, Airgas said in a statement.在投票的最后結果將制表和認證后獲釋,Airgas在聲明中說。
'Ready to Negotiate' '準備好進行談判'
“Airgas shareholders have provided a clear mandate to negotiate a transaction,” Air Products CEO John McGlade said in a statement. “Airgas股東提供了明確的任務,談判一項交易,”空氣化工產品公司的首席執行官約翰麥克格萊德在聲明中說。 “We stand ready to negotiate immediately.” “我們隨時準備立即進行談判。”
McGlade, who runs the world's biggest hydrogen producer, took a $60-a-share bid directly to shareholders in February after two prior requests for friendly talks were rejected.麥克格萊德,誰運行著世界上最大的氫生產,采取了友好的交談后,兩個前向股東請求60美元1股,直接被拒絕的出價在2月份。
“It's now a question of the two parties sitting down and negotiating a friendly deal,” said Mark Gulley, a New York based analyst at Soleil Securities. “現在的問題,雙方坐下來談判友好交易,”馬克格利說,在紐約Soleil證券的分析師。
Investors at the meeting elected Air Products' nominees John P. Clancey, Robert L. Lumpkins, and Ted B. Miller Jr. The vote ousted McCausland as chairman, and two other directors, W. Thacher Brown, and Richard C. Ill.在當選的空氣化工產品公司的被提名人約翰P.克蘭斯,羅伯特L.蘭普金斯會見投資者,特德二小米勒擔任董事長下臺麥考斯蘭的選票,而另外兩名董事之際,撒切爾布朗和理查德病態。
Airgas shareholders voted to bar defeated directors from being reseated for three years, with the exception of McCausland, who can be reseated as long he doesn't serve as chairman. Airgas股東投票否決被禁止三年重新插拔董事,隨著麥考斯蘭例外,誰可以重新插拔一下,只要他不擔任主席。 Investors also approved an Air Products proposal to repeal any bylaw amendments adopted by the Airgas board since April 7.投資者還批準了空氣化工產品公司的建議,廢除任何附例的Airgas自4月7日董事會通過的修正案。
Proxy Recommendations代理的建議
Four proxy advisory firms, including Institutional Investor Services, recommended last week that Airgas shareholders oppose Air Products' proposal to hold the next annual meeting in January.四代理咨詢公司,包括機構投資者服務,上周Airgas建議股東反對空氣產品公司的建議,明年1月舉行的年度會議。 ISS said the threat of a board takeover would deprive Airgas of the ability to negotiate the best price.國際空間站的一個委員會表示,將收購的威脅剝奪的談判能力最好的價格Airgas。
Airgas said Aug. 23 that the accelerated annual meeting schedule was legally invalid, partly because it may improperly shorten directors' terms. Airgas表示,8月23日的年度會議時間表加快在法律上無效的,部分是因為它可能不正確縮短董事的條款。
“Delaware law does not permit two 'annual' meetings for the election of directors in just four months,” Airgas lawyers said in a brief filed in Wilmington. “特拉華州的法律不允許兩個年度'為選舉董事會議,在短短4個月,”Airgas律師表示,在威爾明頓提出了簡短。
“Airgas' lawsuit is completely without merit,” Air Products said in a separate statement. “Airgas'訴訟是完全沒有好處,”空氣產品公司在另一項聲明中說。
Market Leader市場領導者
Air Products is based in Allentown, Pennsylvania, about 60 miles north of Airgas's headquarters.空氣產品公司是總部設在賓夕法尼亞州Allentown,大約60英里以北的Airgas的總部。 A combination of the companies would have more than $12 billion in sales, replacing US market leader Praxair Inc. and closing the gap with Air Liquide SA of France and Germany's Linde AG.阿的公司合并后將有超過120億美元的銷售額,取代美國普萊克斯公司和市場的領導者縮小與法國液化空氣SA公司和德國林德公司的差距。
McCausland created Airgas in 1982 with his first purchase of a packaged-gas company for $5.3 million.麥考斯蘭創建于1982年與他的一個包裝,煤氣公司首次購買530萬美元Airgas。 Radnor, Pennsylvania-based Airgas made more than 400 acquisitions, grabbing 25 percent of the market for industrial gases such as argon and oxygen sold in small quantities.拉德納,位于賓夕法尼亞州的Airgas了400多個收購,搶走了,如氬氣和氧氣的小批量銷售工業氣體市場的百分之25。
Should Air Products end its pursuit, Airgas may institute a share buyback to support the share price and recapitalize the balance sheet, McCausland said last week.如果空氣化工產品公司結束其追求,Airgas可能建立一個股票回購計劃,以支持股價和資產重組的資產負債表,麥考斯蘭上周說。 The company also would talk with other potential bidders, he said.該公司也將與其他潛在投標人,他說。
McCausland owns 9.2 percent of the company's shares.麥考斯蘭擁有9.2公司的股份。
--With assistance from Phil Milford in Wilmington. - 由菲爾米爾福德援助威爾明頓。 Editors: Simon Casey, Steven Frank.編輯:西門凱西,史蒂芬弗蘭克。
To contact the reporter on this story: Jack Kaskey in Drexel Hill, Pennsylvania, at jkaskey@bloomberg.net.要聯系本故事記者:杰克在德雷克塞爾山,賓夕法尼亞州,卡斯基在jkaskey@bloomberg.net。
To contact the editor responsible for this story: Simon Casey at scasey@bloomberg.net.聯絡scasey@bloomberg.net的編輯負責對這個故事:西蒙凱西。