Consumer goods packager Silgan Holdings Inc said it would buy smaller rival Graham Packaging Company Inc for about $1.3 billion in cash and stock to tap growing demand for plastic containers globally. The deal comes days after private equity firm Blackstone , which holds a 61 percent stake in Graham, received the European Union's approval to buy Spanish food cans maker Mivisa from CVC . Graham shares were trading up 22 percent at $19.25 in pre-market trade. They closed at $16.71 on Tuesday on the New York Stock Exchange. Shares of Silgan were up 7 percent. The acquisition, valued at $4.1 billion including debt, will help Silgan boost the number of manufacturing facilities in the Americas, Europe and Asia.
Source
