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withdrawn at a price at or below $58.50 per share.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and not withdrawn.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.
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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.
Copyright Business Wire 2015