SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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I want to take a moment to update you on the ongoing litigation related to Airgas annual meeting of stockholders. This past Friday, the Delaware Chancery Court upheld the Air Products By-Law amendment proposal to require that an Annual Meeting of Stockholders be held on January 18, 2011 and that all future annual meetings of stockholders be held in January. Airgas awaits a decision on other matters still pending before the Court.
While we appreciate the Courts consideration of this matter, we disagree with the Courts decision and we intend to appeal the ruling as we firmly believe the Air Products By-Law proposal is invalid under both Delaware law and Airgas Certificate of Incorporation. We also believe that the proposal has not been approved because it received the affirmative vote of less than 67% of the shares entitled to vote generally in the election of directors.
As you know, the Airgas Board has previously determined that Air Products tender offer is grossly inadequate and does not adequately compensate Airgas stockholders for the Companys excellent prospects, inherent value and impressive economic performance. Airgas is poised for continued success as the economy strengthens and I look forward to working with you to capitalize on the significant opportunities that lie ahead for us.
Our Board continues to work hard to protect the interests of all Airgas stockholders and we appreciate your continued dedication and commitment. Please help us by remaining focused on meeting and exceeding the needs of our customers and delivering the outstanding performance that stockholders have come to expect from us.
As always, dont hesitate to reach out to your managers with any questions.
Chief Executive Officer
This communication does not constitute an offer to buy or solicitation of an offer to sell any securities. In response to the tender offer commenced by Air Products Distribution, Inc., a wholly owned subsidiary of Air Products and Chemicals, Inc., Airgas has filed a solicitation/recommendation statement on Schedule 14D-9 with the U.S. Securities and Exchange Commission (SEC). INVESTORS AND SECURITY HOLDERS OF AIRGAS ARE URGED TO READ THESE AND OTHER DOCUMENTS FILED WITH THE SEC CAREFULLY IN THEIR ENTIRETY BECAUSE THEY CONTAIN IMPORTANT INFORMATION. Investors and security holders may obtain free copies of these documents and other documents filed with the SEC by Airgas through the web site maintained by the SEC at http://www.sec.gov. Also, materials related to Air Products Unsolicited Proposals are available in the Investor Information section of the Companys website at www.airgas.com, or through the following web address: http://investor.shareholder.com/arg/airgascontent.cfm.
Airgas has filed a definitive proxy statement on Schedule 14A with the SEC on July 23, 2010 in connection with the solicitation of proxies for the 2010 annual meeting of Airgas stockholders. Airgas may file an additional proxy statement with the SEC. Any definitive proxy statement will be mailed to stockholders of Airgas. INVESTORS AND SECURITY HOLDERS OF AIRGAS ARE URGED TO READ THESE AND OTHER DOCUMENTS FILED WITH THE SEC CAREFULLY IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Investors and security holders will be able to obtain free copies of these documents (when available) and other documents filed with the SEC by Airgas through the web site maintained by the SEC at http://www.sec.gov.
This communication contains statements that are forward looking. Forward-looking statements include the statements identified as forward-looking in the Companys press release announcing its quarterly earnings, as well as any statement that is not based on historical fact, including statements containing the words believes, may, plans, will, could, should, estimates, continues, anticipates, intends, expects and similar expressions. All forward-looking statements are based on current expectations regarding important risk factors and should not be regarded as a representation by us or any other person that the results expressed therein will be achieved. Airgas assumes no obligation to revise or update any forward-looking statements for any reason, except as required by law. Important factors that could cause actual results to differ materially from those contained in any forward-looking statement include the factors identified in the Companys press release announcing its quarterly earnings, as well as other factors described in the Companys reports, including its March 31, 2010 Form 10-K, subsequent Forms 10-Q, and other forms filed by the Company with the Securities and Exchange Commission. The Company notes that forward-looking statements made in connection with a tender offer are not subject to the safe harbors created by the Private Securities Litigation Reform Act of 1995. The Company is not waiving any other defenses that may be available under applicable law.