Graham Packaging (GRM -2.6%) agrees to a $25.50/share offer from New Zealand-based Reynolds...

|About: Graham Packaging (GRM)|By:, SA News Editor

Graham Packaging (GRM -2.6%) agrees to a $25.50/share offer from New Zealand-based Reynolds Group, $0.50 higher than its June 13 offer. Graham will pay Silgan (SLGN -0.3%) a $39.5M penalty for backing out of its $19.56/share deal after the latter failed to counterbid during the three-day match period. (PR)