Tuesday, February 15, 2011

Airgas = No Deal

The judge finally issued his ruling in favor of Airgas' (Ticker: ARG) poison pill. Air Products (Ticker: APD) promptly issued a press release stating that they have withdrawn their tender offer of $70 for Airgas. Airgas stock is trading in after hours at ~ $61. I'm not going to close out my Airgas position because I believe Airgas is very vulnerable now. The next shareholder meeting scheduled for September will be very interesting as additional members of the board will be up for re-election. Now, it's the shareholders turn to have a say. It's not over by any means...


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