NEW YORK, April 13, 2011 (GLOBE NEWSWIRE) -- Pomerantz Haudek Grossman & Gross LLP is investigating potential claims on behalf of investors of Graham Packaging Inc. ("Graham" or the "Company") concerning the proposed acquisition of Graham by Siligan Holdings Inc. ("Siligan"). The cash and common stock transaction is valued at $4.1 billion.
The investigation concerns, among other things, possible breaches of fiduciary duty by the Company's officers and directors. Under the terms of the agreement, Graham shareholders will receive 0.402 shares of Siligan common stock and $4.75 in cash for each share of Graham common stock, with an implied transaction value of $19.56 per Graham share. Blackstone Capital Partners III L.P., certain of its affiliates, and the Graham family, collectively own on a diluted basis 65% of Graham's common shares. Ordinary shareholders will be excluded from a cash payment at closing of $245 million.
Graham shareholders seeking more information about this acquisition are advised to contact Gustavo Brückner at 212-661-1100 or 888-476-6529, ext. 302. Shareholders may also contact Rachelle R. Boyle at rrboyle@pomlaw.com or 212-661-1100 or 888-476-6529, ext. 237.
The Pomerantz Firm, with offices in New York, Chicago, and Washington, D.C., is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See http://www.pomerantzlaw.com/">www.pomerantzlaw.com.