U.S.-based packaging company Silgan Holdings is reportedly considering a takeover of German medical packaging manufacturer Gerresheimer. According to sources familiar with the matter, Silgan is collaborating with advisors on a potential offer that could value Gerresheimer at 41 euros per share. However, the source cautioned that there is no guarantee a bid will be made or that a transaction will be completed. Silgan specialises in manufacturing rigid packaging for consumer goods. The company provides packaging solutions for a wide range of industries.
Gerresheimer, headquartered in Duesseldorf, declined to comment on the matter. Silgan was not immediately available for comment. News of Silgan’s interest caused Gerresheimer’s shares to jump 6.7%, trading at 18.9 euros. Gerresheimer, with a valuation of approximately 600 million euros ($694 million), has experienced a significant decline in its share price, dropping over 80% from its 2023 peak and 37% since the start of the year.
The German financial regulator BaFin is expanding its investigation into Gerresheimer’s financial statements, further pressuring the medical products manufacturer. This comes as the company deals with ongoing accounting issues and the falling share price. Previously, Gerresheimer held discussions with private equity investors regarding a potential sale last year; however, these talks concluded without any agreement being reached.
