Silgan announces $3.4 bln Trivium acquisition; shares rise

By Reuters News

** Shares of packaging firm Silgan SLGN.N rise nearly 6% to $39.90 premarket

** Co to buy Europe's Trivium Packaging for $3.4 billion

** Ardagh Group, as minority joint venture partner, has entered into the agreement to sell its entire ~42% stake in Trivium

** This follows Ontario Teachers' Pension decision to sell its majority stake in Trivium to Silgan and funds affiliated with American Industrial Partners

** Deal is expected to close in mid-2027

** Talks come as packaging firms consolidate to gain scale, cut costs and better serve food makers

** SLGN has previously signalled interest in taking over German medical packaging maker Gerresheimer

** As of last close, stock has fallen 6.37% YTD

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