Silgan Announces Final Results of Tender Offer
November 21 2016 - 8:30AM
Business Wire
Silgan Holdings Inc. (Nasdaq:SLGN), a leading supplier of rigid
packaging for shelf-stable food and other consumer goods products,
announced today the final 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 final count by
Computershare Trust Company, N.A., the depositary for the tender
offer, Silgan has accepted for purchase 5,308,905 shares of its
common stock at a price of $50.75 per share in the tender offer,
for a total purchase price of approximately $269.4 million,
excluding fees and expenses relating to the tender offer. Included
in the 5,308,905 shares accepted for purchase in the tender offer
are 382,797 shares that Silgan 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 shares
purchased in the tender offer represent approximately 8.8 percent
of Silgan’s outstanding common stock as of November 21, 2016.
Following settlement of the tender offer, Silgan will have
55,051,158 shares of its common stock outstanding. Payment for the
shares accepted for purchase, and return of all other shares
tendered and not accepted for purchase, will be made promptly by
the depositary for the tender offer.
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.
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version on businesswire.com: http://www.businesswire.com/news/home/20161121005175/en/
Silgan Holdings Inc.Robert
B. Lewis, 203-406-3160
Silgan (NASDAQ:SLGN)
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