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Buyout of Graham Packaging Investigated by Tripp Levy PLLC

^{Published on 2011-04-13 04:45:26 - Market Wire}
 

NEW YORK--([ BUSINESS WIRE ])--Tripp Levy PLLC, a leading national securities law firm, announces an investigation into the acquisition of Graham Packaging Company Inc. (NYSE: GRM). It was announced that Silgan Holdings Inc. (NASDAQ: SLGN) entered into a definitive merger agreement to acquire Graham Packaging. Under the terms of the agreement, Graham shareholders will receive 0.402 shares of Silgan common stock and $4.75 in cash for each share of Graham common stock. Based on Silgana™s stock price as of April 12, 2011, the transaction implies a value of $19.56 per Graham share.

In addition, Blackstone Group, which owns approx. 61% of Grahama™s common shares and has members on the Graham board, and the Graham family will receive an additional cash payment of $245 million as a result of the transaction.

The investigation concerns, among other things, whether the consideration to be paid to Graham shareholders is unfair, inadequate, and substantially below the fair or inherent value of Graham. Indeed, analysts have projected the companya™s true going forward value is at least $22 per share. The investigation further concerns whether Blackstone and the Graham family, along with the directors of Graham may not be acting in Graham shareholders' best interests in connection with the proposed transaction, as well as the sale process.

If you own Graham common stock and you wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:

Tripp Levy PLLC is a national law firm that specializes in mergers & acquisitions, takeover litigation, shareholder rights, and corporate governance matters in state and federal courts throughout the United States.

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