Exclusive-US packaging firm Silgan signals interest for Germany's Gerresheimer, sources say

MUNICH, March 20 (Reuters) - ‌U.S. packaging ​company ​Silgan Holdings has signalled interest in taking over German medical packaging maker Gerresheimer (NYSE: GXIG), ‌according to two sources familiar with the matter.

Silgan ⁠is working with advisers on the approach that could ‌value Gerresheimer at 41 ‌euros per share, one source said, cautioning that there is no certainty there will be a ​bid and that a transaction will be completed.

Gerresheimer declined to comment.

Silgan was not immediately ⁠available for comment.

Gerresheimer shares rose 6.7% following the news to trade at ​18.9 euros.

Gerresheimer, worth about 600 million euros ($694 million), has seen its shares drop ​more than 80% from its ‌2023 peak and the stock is down 37% since the start of the ⁠year.

The company said in late February that Germany's financial regulator BaFin is widening a probe into its ⁠financial statements, adding pressure on the medical products maker as ​it grapples with accounting issues and a plunging share price.

The Duesseldorf-based company held talks last year with private equity ‌investors over a potential sale, but the conversations ended without an agreement.

($1 = 0.8644 ‌euros)

(Reporting by Alexander Huebner in Munich, Christoph Steitz ⁠in Frankfurt; Additional ‌reporting by Milana ​Vinn in New York; writting by Andres Gonzalez; Editing by Miranda Murray and Louise ‌Heavens)

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