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Kendall Law Group Investigates Graham Packaging Company Inc. Merger for Shareholders

^{Published on 2011-04-13 06:50:30 - Market Wire}
 

DALLAS--([ BUSINESS WIRE ])--[ Kendall Law Group ], led by former federal judge Joe Kendall, is investigating Graham Packaging Company Inc. (NYSE: GRM) for shareholders in connection with the proposed acquisition by Silgan Holdings Inc. The national securities firma™s investigation seeks to determine whether Graham Packaging and its Board breached their fiduciary duties by entering into the agreement without properly shopping for a deal that would provide better value for shareholders. If you are a Graham Packaging shareholder and would like additional information about your rights, contact the Kendall Law Group at 877-744-3728 or by email at [ skendall@kendalllawgroup.com ].

On April 13, 2011, the companies announced the definitive merger agreement under which Graham Packaging would be acquired by Silgan Holdings, in a transaction valued at approximately $1.25 billion in cash and stock. Under the terms of the agreement, Graham Packaging stockholders will receive 0.402 Silgan Holdings (NASDAQ: SLGN) shares and $4.75 in cash for each share of Graham Packaging/GRM common stock held. The offer represents a value of $19.56 per Graham Packaging share based on Silgan Holdingsa™ closing stock price on April 12, 2011. The offer represents an approximately 17 percent premium over the closing price of Graham's stock on April 12, 2011. Additionally, according to Thompson/First Call, analysts have set a price target as high as $22.00 per share for Graham Packaging stock. The firma™s investigation seeks to determine whether Graham Packaging and its Board undertook a fair process in negotiating the deal.

Kendall Law Group was founded by a former federal judge, includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation. The firm has been counsel in numerous merger and acquisition cases nationwide, including some of the largest transactions in the United States.