M&AConsumerRUMOURED
Silgan Nears $3.4 Billion Purchase of Trivium Packaging
Value
$3.4Bn
Acquirer
Silgan Holdings Inc.
Target
Trivium Packaging
Silgan Holdings Inc. is reportedly in advanced talks to acquire Trivium Packaging, a European company. The potential deal is valued at approximately $3.4 billion. This acquisition would expand Silgan's global footprint and product offerings.
✦ Meridian Analysis
Silgan Holdings Inc. has agreed to buy European packaging company Trivium Packaging for $3.4 billion, including debt. The US-based buyer is acquiring Trivium from Ontario Teachers' Pension Plan and Ardagh Group SA, as confirmed in a statement on Monday. For Silgan, this represents its largest ever acquisition, combining Trivium's metal-packaging focus with Silgan's metal containers segment and food and beverage flat cap closures unit.
As part of the transaction mechanics, Silgan expects cash proceeds of about $2.3 billion from the merger, which it will use to retire some debt. The exact composition of the wider financing package and the advisers retained by the parties have not been disclosed.
Regulatory approvals and the precise timetable for completion were not disclosed in the announcement.
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