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Gerresheimer Rejects Silgan Takeover Bid
17 Apr
Summary
- Gerresheimer has rejected a takeover bid from rival Silgan.
- No ongoing talks between the two companies were reported.
- Gerresheimer aims to resolve accounting issues and sell a subsidiary.
German medical packaging manufacturer Gerresheimer has formally rejected a takeover proposal from its U.S. counterpart, Silgan. Sources close to the matter revealed that all discussions between the two entities have ceased.
This rejection comes after Silgan had previously signaled interest, submitting a non-binding offer of 41 euros per share in March. The German company's stock saw a decline following the news.
Gerresheimer has stated its current priority is to resolve outstanding accounting issues and to proceed with the sale of its U.S.-based subsidiary, Centor. The company has declined to comment on market rumors regarding the bid.
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