Air Products adopts anti-takeover plan
A Lehigh Valley "gas giant" has developed a plan to defend a potential takeover.
Air Products' board has adopted a stockholder rights plan sometimes known as a "poison pill."
If an investor buys 10 percent of Air Products -- without board approval -- before July 24th of next year other shareholders would be able to buy shares at a much cheaper price.
Air Products says this isn't a response to any particular takeover bid but the company is acting after what it calls unusual and substantial stock activity.
Air Products shares finished up 6.5 percent Thursday.
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