Exclusive-Gerresheimer rejects takeover bid from US packing firm Silgan, sources say
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FILE PHOTO: Vials produced by Gerresheimer are displayed at the annual Drug, Chemical & Associated Technologies Association (DCAT) week in New York City, U.S. March 19, 2024. REUTERS/Patrick Wingrove/File Photo
MUNICH, April 17 (Reuters) - German medical packaging maker Gerresheimer has rejected a takeover bid from its U.S. rival Silgan, three sources familiar with the situation told Reuters.
There are no longer any talks between the two companies, according to the sources.
Shares in Gerresheimer were down 5.4% on the news before paring losses and swinging slightly into positive territory.
One source said that Gerresheimer wants to focus for now on resolving its accounting problems and selling its U.S. subsidiary Centor.
Reuters reported in March that Silgan had signalled an interest in taking over Gerresheimer with a non-binding offer of 41 euros ($48.31) per share, more than double the current share price.
A Gerresheimer spokesperson said the company does not comment on market rumours. Silgan did not respond to a request for comment.
($1 = 0.8488 euros)
(Reporting by Alexander Huebner, Christoph Steitz and Anneli Palmen, writing by Miranda Murray and Linda Pasquini, editing by Friederike Heine and Thomas Seythal)
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