Silgan Announces Preliminary Results of Tender Offer
March 11 2015 - 8:00AM
Business Wire
Silgan Holdings Inc. (Nasdaq:SLGN), a leading supplier of rigid
packaging for shelf-stable food and other consumer goods products,
today announced the preliminary results of its “modified Dutch
auction” tender offer, which expired at 5:00 p.m., New York time,
on Tuesday, March 10, 2015. Based on the preliminary count by
Computershare Trust Company, N.A., the depositary for the tender
offer, 2,806,945 shares of common stock, including 391,955 shares
of common stock that were tendered through notice of guaranteed
delivery, were properly tendered and not withdrawn at a price at or
below $58.50 per share. Based on these preliminary results, Silgan
expects to accept for payment all 2,806,945 shares of its common
stock at a price of $58.50 per share, for a total purchase price of
approximately $164.2 million. Accordingly, no proration is required
for the tender offer.
The number of shares to be purchased and the aggregate purchase
price for the tender offer are preliminary and subject to change.
Final results of the tender offer will be determined subject to
confirmation by the depositary of the proper delivery of the shares
validly tendered and not withdrawn. The actual number of shares to
be purchased and the final aggregate purchase price for the tender
offer will be announced following the completion by the depositary
of the confirmation process. Payment for the shares accepted for
purchase, and return of all other shares tendered and not accepted
for purchase, will occur promptly thereafter.
Citigroup served as the dealer manager for the tender offer.
Computershare Trust Company, N.A. served as the depositary for the
tender offer. Georgeson Inc. served as the information agent for
the tender offer. Stockholders and investors who have questions or
need information about the tender offer may contact Georgeson Inc.
at (866) 729-6811.
* * *
Silgan Holdings is a leading supplier of rigid packaging for
shelf-stable food and other consumer goods products with annual net
sales of approximately $3.9 billion in 2014. Silgan operates 87
manufacturing facilities in North and South America, Europe and
Asia. Silgan is a leading supplier of metal containers in North
America and Europe and a leading worldwide supplier of metal,
composite and plastic closures for food and beverage products. In
addition, Silgan is a leading supplier of plastic containers for
shelf-stable food and personal care products in North America.
Statements included in this press release which are not
historical facts are forward looking statements made pursuant to
the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995 and the Securities Exchange Act of 1934, as
amended. Such forward looking statements are made based upon
management’s expectations and beliefs concerning future events
impacting the Company and therefore involve a number of
uncertainties and risks, including, but not limited to, those
described in the Company’s Annual Report on Form 10-K for 2014 and
other filings with the Securities and Exchange Commission.
Therefore, the actual results of operations or financial condition
of the Company could differ materially from those expressed or
implied in such forward looking statements.
Silgan Holdings Inc.Robert B. Lewis, 203-406-3160
Silgan (NASDAQ:SLGN)
Historical Stock Chart
From Mar 2024 to Apr 2024
Silgan (NASDAQ:SLGN)
Historical Stock Chart
From Apr 2023 to Apr 2024
