GrafTech International rallies over 4% after 2 corps acquisition

Nov. 30, 2010 - GrafTech International Ltd. rallied more than 4% after the company announced that it has completed the acquisitions of Seadrift Coke L.P., the world's second largest producer of petroleum-based needle coke, and C/G Electrodes LLC (C/G), a US-based graphite electrode producer, pursuant to the previously announced merger agreements.'
Shares of GrafTech International are lower on the session by 2.94%, trading at $18.12 yeterday. Put volume is now running at 9.36x the daily average, with 96% of all puts traded being purchases on the offer. 1,048 put contracts have traded so far during the session.
GrafTech International Ltd. manufactures graphite and carbon material science-based solutions. The company operates in two segments, Industrial Materials and Engineered Solutions.
The Industrial Materials segment manufactures and delivers graphite electrodes, refractory products, and related services. Its graphite electrodes enable thermal management solutions for the electronics industry and fuel cell solutions for the transportation and power generation industries.