Silgan Announces Preliminary Results of Tender Offer
Silgan Holdings Inc. (Nasdaq:SLGN), a leading supplier of rigid packaging for shelf-stable food and other consumer goods
products, announced today the preliminary results of its “modified Dutch auction” tender offer, which expired at 5:00 p.m., New
York time, on Tuesday, November 15, 2016. Based on the preliminary count by Computershare Trust Company, N.A., the depositary for
the tender offer, 5,309,577 shares of common stock, including 277,804 shares of common stock that were tendered through notice of
guaranteed delivery, were properly tendered and not withdrawn at a price at or below $50.75 per share. Based on these preliminary
results, Silgan expects to accept for payment 5,309,577 shares of its common stock at a price of $50.75 per share, for a total
purchase price of approximately $269.5 million. Accordingly, no proration is required for the tender offer. At the price per share
of $50.75, the 5,309,577 shares of its common stock to be purchased by Silgan in the tender offer includes approximately 383,469
additional shares that Silgan has elected to purchase pursuant to its right to purchase up to an additional two percent of its
outstanding shares of common stock in 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the shares validly tendered and not withdrawn.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 LLC 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 LLC 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 $3.8 billion in 2015. 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 2015 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
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