Market Chatter: Silgan Nears $3.4 Billion Deal for Trivium Packaging

MT Newswires Live10-19 18:59

Silgan Holdings (SLGN) is in advanced talks to acquire Trivium Packaging from Ontario Teachers' Pension Plan and Ardagh Group in a deal valuing the company at $3.4 billion, including debt, Bloomberg reported Monday, citing unnamed sources.

The deal could involve a $1 billion investment from American Industrial Partners for a 40% stake in the combined metal packaging business, the report said. Silgan expects to receive $2.3 billion in cash proceeds, which it plans to use to repay debt, it added.

Silgan's specialty packaging operations would be placed in a separate, wholly owned division called Silgan Dispensing Solutions.

A final agreement has not been reached, and discussions could still fall through, according to Bloomberg.

Silgan Holdings did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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