Air Products (APD)’ Board of Directors issued an open letter to shareholders in connection with its upcoming 2025 Annual Meeting of Shareholders, which will be held at 8:30 a.m. U.S. Eastern Time on January 23. It stated, in part, “Dear Fellow Shareholder, This year’s Annual Meeting is only days away and we urge you to protect the value of your investment in Air Products by voting “FOR” ONLY Air Products’ nominees on the WHITE proxy card. While Air Products successfully executes a long-term strategy for growth and value creation, Mantle Ridge continues to run a disruptive and misguided campaign focused on impeding our significant progress in favor of its own short-term goals. Support for Mantle Ridge and its insufficiently qualified and highly conflicted nominees would bring about value destruction and jeopardize Air Products’ prospects.”
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