GRAFTECH INTERNATIONAL (GTI) SHAREHOLDER ALERT - Andrews & Springer LLC Is Seeking More Cash for Shareholders of GrafTech International Ltd.
WILMINGTON, Del.--(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. (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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