In Air Products and Chemicals, Inc. v. Airgas, Inc., C.A. No. 5249-CC and In re Airgas Inc. S’holder Litig., Civil Action No. 5256-CC (Del. Ch. July 7, 2010), read short letter ruling here, the Delaware Court of Chancery granted an unopposed motion to bar the public from a hearing scheduled for today on a motion to compel and a motion to enforce a confidentiality order. The reasoning of the Court was based on the three following points:
1) the sensitive nature of the document at the heart of plaintiff Air Products’ motion to enforce the Confidentiality Order and defendant Airgas’ motion to compel; 2) the substantial risk of injury to Air Products from public disclosure of the document in question; and 3) the fact that neither plaintiff shareholders nor defendant Airgas opposes plaintiff Air Products’ motion to close….
This case concerns a contested, proposed merger transaction. The background story and prior rulings from the Court of Chancery were highlighted on this blog previously and are available here.