Hicks and Blackstone Ammend Graham Packaging Deal
The Blackstone Group and Hicks Acquisition Co. have amended an agreement whereby Graham Packaging Holdings Co. would go public through a transaction with Hicks, existing Graham owner Blackstone Group and Graham management. The transaction is valued at approximately $3.2 billion, and is believed to be the largest ever between a SPAC and an industrial company. Under terms of the amendment, both Hicks and Blackstone now have the right to terminate the agreement by giving written notice to the other, and each party is released from the agreement’s exclusivity provisions and will be permitted to consider other possible transactions.
29 January 2009•5 mins read
