As Air Products & Chemicals raised its takeover offer of a seemingly more receptive Airgas last week, Airgas continued to wage its battle against the law firm the two companies once shared.
Airgas sued its former law firm, Cravath Swaine & Moore, after the firm decided to represent other longtime client Air Products in Air Products’ bid for Airgas. A Pennsylvania federal judge said the Delaware Chancery Court, which was overseeing litigation between the two companies regarding the takeover bid, should be the one to decide whether Cravath can represent Air Products or if it is barred by a conflict of interest.
