The Deal Pipeline Quotes Wolosky on Universal Proxy in Contested Elections

Activist Practice Chair Steve Wolosky was recently quoted in The Deal Pipeline (subscription required) regarding former director and investor Nathan Milikowsky seeking a universal proxy card for the contest at GrafTech International Ltd. in his attempts to get five director candidates, including himself, to the board. According to Wolosky it is unusual to see a request for a universal proxy in a contested election at an American company. As mentioned in the article as an example, Olshan represented Starboard Value in its election contest at Tessera and the negotiation of the settlement agreement once it rejected Tessera’s proposal to allow stockholders to vote on a universal proxy card for the 2013 annual meeting.