BUZZ-Silgan announces $3.4 billion acquisition of Trivium; stock price rises

October 19 - ** Packaging company Silgan (SLGN.N) shares rose nearly 6% in pre-market trading to $39.90

** The company will acquire Europe's Trivium Packaging for $3.4 billion

** As a minority shareholder in the joint venture, Ardagh Group has signed an agreement to sell its entire approximately 42% stake in Trivium

** Previously, Ontario Teachers' Pension Plan had decided to sell its majority stake in Trivium to Silgan and a fund under American Industrial Partners

** The transaction is expected to be completed by mid-2027

** The negotiations come at a time when packaging companies are integrating to scale up, cut costs, and better serve food manufacturers

** Silgan (SLGN) had previously expressed interest (link) in acquiring German medical packaging manufacturer Gerresheimer

** As of the close of the previous trading day, the stock had fallen 6.37% so far this year

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