GRAFTECH INTERNATIONAL (GTI) SHAREHOLDER ALERT - Andrews & Springer LLC Is Seeking More Cash for Shareholders of GrafTech Int...
May 19 2015 - 8:01AM
Business Wire
Andrews & Springer LLC, a boutique securities class
action law firm focused on representing shareholders nationwide, is
investigating potential breach of fiduciary duty claims against the
Board of Directors of GrafTech International Ltd. (NYSE:GTI)
(“GrafTech” or the “Company”) relating to the sale of the Company
to an affiliate of Brookfield Asset Management, Inc.
(“Brookfield”). On May 18, 2015, the two companies announced the
signing of a definitive merger agreement pursuant to which
Brookfield will acquire GrafTech in a merger via a tender offer. As
a result of the merger, GrafTech shareholders are only anticipated
to receive $5.05 per share in cash in exchange for each share of
GrafTech.
Our investigation so far has revealed that the consideration
GrafTech shareholders are expected to receive is significantly
inadequate. While the Company claims that shareholders will receive
a “26% premium” for their shares, in reality GrafTech shareholders
are only receiving a 2% premium based on Friday’s May 15, 2015
closing price (at $4.95 per share). When compared to yesterday’s
$5.05 per share closing stock price, GrafTech shareholders will be
receiving virtually no premium at all. Tellingly, analysts at
Yahoo! Finance have set a $6.00 per share price target for
GrafTech, which is approximately 18.8% more than what GrafTech
shareholders are expected to receive.
Andrews & Springer is investigating whether the GrafTech
Board of Directors is breaching their fiduciary duties to
shareholders and whether GrafTech’s directors have failed to
maximize shareholder value.
If you own shares of GrafTech and want to receive additional
information and protect your investments free of charge, please
visit us at http://www.andrewsspringer.com/cases-investigations/GTI
or contact Craig J. Springer, Esq.
at cspringer@andrewsspringer.com, or call toll free at
1-800-423-6013. You may also follow us on LinkedIn –
www.linkedin.com/company/andrews-&-springer-llc, Twitter –
www.twitter.com/AndrewsSpringer or Facebook -
www.facebook.com/AndrewsSpringer for future updates.
Andrews & Springer is a boutique securities class action law
firm representing shareholders nationwide who are victims of
securities fraud, breaches of fiduciary duty or corporate
misconduct. Having formerly defended some of the largest financial
institutions in the world, our founding members use their valuable
knowledge, experience, and superior skill for the sole purpose of
achieving positive results for investors. These traits are the
hallmarks of our innovative approach to each case our Firm
decides to prosecute. For more information please visit our website
at www.andrewsspringer.com. This notice may constitute Attorney
Advertising.
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Andrews & Springer LLCCraig J. Springer, Esq.,
1-800-423-6013cspringer@andrewsspringer.com