Law Offices of Howard G. Smith Announces Investigation on Behalf of Shareholders of Graham Packaging Company Inc., in Connect...
15 April 2011 - 9:30AM
Business Wire
Law Offices of Howard G. Smith announces that it is
investigating potential claims against the board of directors of
Graham Packaging Company Inc. (“Graham” or the “Company”) (NYSE:
GRM) related to the Company’s agreement to be acquired by Silgan
Holdings Inc. (“Silgan”) in a proposed transaction where Graham
shareholders will receive $4.75 in cash and 0.402 shares of Silgan
common stock for every share they own of Graham stock. The proposed
cash-and-stock transaction is valued at approximately $4.1
billion.
The investigation concerns whether the board of directors of
Graham breached their fiduciary duties to stockholders by failing
to adequately shop the Company before agreeing to enter into the
proposed transaction, and whether the Company has disclosed all
material information to shareholders about the transaction.
Specifically, the Company has seen substantial growth over the past
year. Further, at least one analyst has set a target price of
$22.00 per share, virtually nullifying any premium that Graham
shareholders would receive under the transaction. The proposed
transaction is expected to close in the second half of 2011.
If you are a shareholder of Graham, if you have information or
would like to learn more about these claims, or if you wish to
discuss these matters or have any questions concerning this
announcement or your rights or interests with respect to these
matters, please contact Howard G. Smith, Esquire, of Law Offices of
Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem,
Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at
(888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or
visit our website at http://www.howardsmithlaw.com.
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