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April 13, 2014
15:32 EDTGTI'Save GrafTech' responds to settlement proposal rejection by Graftech
Nathan Milikowsky, a former GrafTech International director and a holder of over 15M GrafTech shares, or over 11.2%, of the common stock, sent a letter to GrafTech in response to the company’s rejection of Save GrafTech’s latest settlement proposal. Save GrafTech has nominated five directors for election to the board of directors of GrafTech at the company’s annual meeting of stockholders on May 15. The letter said in part: "On April 11, Save GrafTech proposed a settlement offer for minority representation on a newly reconstituted 10-member Board...Save GrafTech also proposed a solution to address any concerns the company might have about my suitability to rejoin the board...Having served on the Board with your current directors, I was not surprised that GrafTech rejected this eminently reasonable offer and responded in less than eight hours with an unacceptable counter-proposal. However, I was surprised that this rejection clearly betrays the board’s lack of confidence in the “findings" of its own Special Committee investigation, which was the pretext for excluding me from continuing to serve as a director in 2013...It is unfortunate that our settlement discussions have been scuttled by GrafTech’s inability to accept an exceptionally reasonable offer, which included minority representation for the Save GrafTech slate as well as a significant two-year standstill provision...I look forward to providing shareholders with a platform for truly meaningful change at the 2014 Annual Meeting. "
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October 9, 2014
07:54 EDTGTIGrafTech valuation offers 'exceptional' opportunity, says Jefferies
Jefferies believes current valuation levels offer an "exceptional" buying opportunity into shares of GrafTech. The firm lowered its price target for shares to $11 from $13.50 to account for the company's guidance cut, but points out its channel checks indicate the electrode market has bottomed. Jefferies sees "considerable" upside as the market improves and keeps a Buy rating on GrafTech.

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