Silgan Holdings (SLGN) Jumps on $250M Tender Offer, Additional Stock Repurchase Plan
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Silgan Holdings, Inc. (NASDAQ: SLGN) is nearly 4 percent higher early Monday after commencing a "modified Dutch Auction" tender offer to purchase up to $250 million of its common stock.
In addition, Silgan also announced that its Board of Directors has authorized the repurchase of up to an additional $100 million of the Company's common stock, resulting in an aggregate outstanding authorization for stock repurchases of $350.1 million, a portion of which will be utilized in the tender offer. This authorization is effective through December 31, 2014.
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In addition, Silgan also announced that its Board of Directors has authorized the repurchase of up to an additional $100 million of the Company's common stock, resulting in an aggregate outstanding authorization for stock repurchases of $350.1 million, a portion of which will be utilized in the tender offer. This authorization is effective through December 31, 2014.
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