Silgan Holdings Tender Offer with 2% Upside
- Company: Silgan Holdings
- Ticker: SLGN
- Market Cap: $3bn
- Size of Action: $280mm
- Type of Transaction: Dutch Auction Tender Offer
- Current Price: $51.01
- Tender Price: $45.50 - $52.25
- Potential Gain (%): 2.4%
- Expiration: November 15, 2016
- Tender Limit (Shares): 99
- Max Investment ($): $5,050
- Max Gain ($): ~$120
- Sec Filing: Link
- Summary: Silgan Holdings is offering to purchase up to 5,494,505 shares of our common stock in a tender offer. SLGN is offering to purchase these shares at a price not less than $45.50 nor greater than $52.25 per share in cash, upon the terms and subject to the conditions described in this offer to purchase, accordingly, the company will purchase shares having an aggregate purchase price of no more than $250 million. At the minimum price of $45.50 per share in the Offer, we will purchase a maximum of 5,494,505 shares, or approximately 9.1% of our outstanding common stock as of October 14, 2016. At the maximum price of $52.25 per share in the Offer, we will purchase a maximum of 4,784,688 shares, or approximately 7.9% of our outstanding common stock as of October 14, 2016.
- Source of Funds: Existing Cash.
- Odd Lot Provision: ...Odd lots will be accepted for payment before any proration of the purchase of other tendered shares....
- All information contained on or available through this Web Site (“the Content”) is for general information purposes only and does not constitute any investment advice.
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