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Airgas shareholders elect 3 new board members

Wed, 09/15/2010 - 7:13am
The Associated Press

Airgas says shareholders elected three board members who were nominated by rival Air Products, which has been trying to buy the company for months.

However, the fate of a proposed deal between the companies remains uncertain.

Airgas Inc. also says it believes some company bylaw amendments proposed by Air Products and Chemicals Inc. failed to gain enough votes for approval.

Air Products says it wants to buy Airgas Inc. for $65.50 per share. But the Allentown, Pa., company also has said it will walk away from the deal if shareholders failed to elect its board members and accept its bylaw amendments.

Air Products officials could not be reached for immediate comment.

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