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Losing Its Bite? Delaware Court to Reconsider Poison Pill Defense

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Old Jan 18th, 2011, 09:10 AM   #1
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Default Losing Its Bite? Delaware Court to Reconsider Poison Pill Defense

Might the "poison pill" soon lose a little of its toxicity?



It’s the topic of a WSJ story out Tuesday by Gina Chon and Anupreeta Das, which focuses on the long-running takeover battle between Air Products & Chemicals Inc. and Airgas Inc.

For almost 30 years, companies have used the pill as the critical legal tool to ward off hostile takeovers.

But in the Air Products/Airgas battle, the pill itself has come under attack and. In the next few weeks, a Delaware judge is expected to rule on its use.

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