Silgan announces $3.4 bln Trivium acquisition; shares rise

Silgan Holdings

Mon 12:27

** Shares of packaging firm Silgan SLGN.N rise nearly 6% to $39.90 premarket
** Co to buy Europe's Trivium Packaging for $3.4 billion
** Ardagh Group, as minority joint venture partner, has entered into the agreement to sell its entire ~42% stake in Trivium
** This follows Ontario Teachers' Pension decision to sell its majority stake in Trivium to Silgan and funds affiliated with American Industrial Partners
** Deal is expected to close in mid-2027
** Talks come as packaging firms consolidate to gain scale, cut costs and better serve food makers
** SLGN has previously signalled interest in taking over German medical packaging maker Gerresheimer
** As of last close, stock has fallen 6.37% YTD

 (Reporting by Miraanta Lowrance in Bengaluru)
 ((miraanta.lowrance@thomsonreuters.com))