Silgan Holdings, a U.S.-based packaging company, has signalled that it is considering a takeover of German medical packaging specialist Gerresheimer, two people familiar with the matter told Reuters. According to one of the sources, Silgan is coordinating with advisers on how to proceed, but the source emphasised that there is no certainty a formal bid will be made or that any transaction will be completed.
Gerresheimer did not provide a comment when contacted. Silgan was not immediately available for comment.
Investors reacted to the reports: Gerresheimer shares rose 5.6% on the news. The company, which has an estimated market value of roughly 600 million euros, has seen its share price fall sharply from its 2023 highs - a decline in excess of 80% from that peak - and the stock is down 37% so far this year.
Troubles at the Duesseldorf-based medical products maker have included accounting issues that have drawn regulatory attention. In late February the firm said that Germany's financial regulator, BaFin, is widening a probe into its financial statements. That development has added pressure on Gerresheimer amid the ongoing fall in its share price.
Sources familiar with past strategic discussions say Gerresheimer held talks last year with private equity investors about a potential sale, but those conversations ended without an agreement.
Context and details provided by sources
The account from the two sources describes Silgan's interest as exploratory. The involvement of external advisers suggests Silgan is undertaking preparatory work to evaluate options, but the sources cautioned that intent does not equal a binding offer. The available reporting does not indicate any agreed terms, timeline, or a definitive decision to launch a bid.
Market and regulatory backdrop
- Gerresheimer's market value is reported at about 600 million euros.
- Share performance has deteriorated significantly: more than an 80% decline from the 2023 peak and a 37% fall year-to-date.
- BaFin is expanding its review of Gerresheimer's financial statements, a development disclosed by the company in late February.
These factors are part of the public narrative around Gerresheimer and frame investor reactions to takeover interest. The reporting does not provide additional financial details or suggest a specific transaction structure.