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News Breaks
April 14, 2014
07:46 EDTGTIGrafTech says stands behind prior investigation, process and findings
GrafTech International CEO and President, Joel Hawthorne, made public a letter to Nathan Milikowsky to "set the record straight" in response to the incomplete and misleading statements made by the Milikowsky Group in its letter dated April 13. In the letter, Hawthorne states: "The GrafTech Board continues to demonstrate its commitment to working with the Daniel and Nathan Milikowsky Group to reach a reasonable agreement and avoid a proxy contest. That commitment was reaffirmed through GrafTech’s third settlement proposal, which I presented to you on April 9, 2014. With respect to the counter-proposal you presented on April 11, 2014, the GrafTech Board found one key aspect of it – namely that you immediately be reinstated to the Board prior to a review of your qualifications and eligibility to serve – to be unacceptable due to your prior governance breaches and conduct that demonstrated you were not a qualified candidate. Later that same day, we made a very reasonable counter-proposal on substantially the same terms as those in your proposal, which addressed that one key aspect in a method we believe is fair. Attached is a side-by-side comparison of our proposals. I want to make very clear that, as I’ve indicated to you in our conversations, the GrafTech Board stands behind its prior investigation, process and findings."
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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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