Air Products adopts stockholder rights plan
Air Products has observed unusual and substantial activity in the Company’s shares. The Board of Directors believes that the Rights Plan will help promote the fair and equal treatment of all stockholders of the Company in the event of an accumulation of a substantial block of the Company’s shares and ensure that the Board of Directors remains in the best position to discharge its fiduciary duties to the Company and its stockholders. The Rights Plan has not been adopted in response to any specific takeover bid or other proposal to acquire control of the Company.
Pursuant to the Plan, Air Products is issuing one preferred stock purchase right for each current share of common stock outstanding at the close of business on August 5, 2013. Initially, these rights will not be exercisable and will trade with the shares of Air Products’ common stock.
Organizations
Other news from the department business & finance
Get the chemical industry in your inbox
From now on, don't miss a thing: Our newsletter for the chemical industry, analytics, lab technology and process engineering brings you up to date every Tuesday and Thursday. The latest industry news, product highlights and innovations - compact and easy to understand in your inbox. Researched by us so you don't have to.