Debevoise Reps Reynolds Group In $4.5B Graham Purchase

Law360, New York (June 17, 2011, 12:03 PM EDT) -- Graham Packaging Co. Inc., the maker of plastic containers for ubiquitous products like Heinz ketchup and Hershey's syrup, said Friday that Reynolds Group Holdings Ltd. would buy it for $4.5 billion, having outbid Silgan Holdings Inc.

Reynolds Group Holdings, part of New Zealand’s Rank Group Ltd., offered $25.50 per share in cash, besting Stamford, Conn.-based Silgan's all-stock offer from April that valued York, Pa.-based Graham Packaging at $4.1 billion.

"The transaction with Reynolds constitutes a superior proposal as compared to the transaction with Silgan," Graham Packaging...
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