The companies say the deal will create a stronger force in creating packaging for beverage, food and consumer products ranging from sports drinks and beer to personal care products and motor oil.
Silgan said it will have 17,000 employees and 180 manufacturing facilities in 19 countries once the deal is completed. It expects the combined company will achieve $50 million in cost savings by the third year after the sale closes.
The companies expect the sale to close in the third quarter if regulators and shareholders approve.
Silgan is offering 0.402 shares and $4.75 in cash for each Graham share, valuing the company at $19.56 per share. That's a premium of 17.1 percent to Tuesday's closing price.Permalink | Email this | Comments