3 Airgas directors say their views misrepresented-CNBC

* Three Airgas board members hire lawyers-CNBC

* Say “unanimous” wording on Nov. letter inaccurate – CNBC

* Airgas shares up 3 pct; Air Products shares up slightly

NEW YORK, Dec 10 (BestGrowthStock) – Three Airgas (ARG.N: ) directors
have hired lawyers to challenge company statements that the
full board is in “unanimous” opposition to a takeover bid from
rival Air Products & Chemicals (APD.N: ), according to a report
on CNBC.

The three directors, who were supported by Air Products in
their bid to join the Airgas board earlier this fall, have
hired Skadden, Arps, Slate, Meagher & Flom LLP, one of the
world’s largest law firms, CNBC said.

Shares of Airgas rose 3 percent to $63.75, while Air
Products were up 0.2 percent at $88.84.

Airgas and Air Products representatives were not
immediately available to comment.

On Thursday, Air Products increased its bid for Airgas by 7
percent to $70 per share cash, or $5.9 billion. Airgas said it
would review the latest offer, but has said in the past that it
is worth $78 per share. [ID:nN09252192]

The three directors initially agreed to wording in a Nov. 2
Airgas letter stating that the board was in “unanimous”
opposition to the then-current offer, but now are saying they
were misrepresented, CNBC reported.

The three new board members are John Clancey, chairman
emeritus of shipping company Maersk; Robert Lumpkins, board
chairman of fertilizer producer Mosaic (MOS.N: ), and Ted Miller,
former chief executive officer of wireless communications tower
provider Crown Castle International Corp (CCI.N: ).
(Reporting by Ernest Scheyder and Michael Erman; Editing by
Lisa Von Ahn)

3 Airgas directors say their views misrepresented-CNBC