Better offer for Graham could upset Silgan’s plans

Canmaker Silgan’s $1.4 billion bid in April to buy Graham Packaging Co could be scuppered by a better offer from an un-named company.

Yesterday, Silgan said that it had been told by Graham that it had received “an unsolicited proposal from a private non-investment grade company to acquire all of the shares of Graham Packaging for $25 per share in cash”.

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