Apollo Global Management may announce RPC takeover - report
The acquisition of RPC Group by American private equity outfit, Apollo Global Management, could be announced as soon as Tuesday.
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According to the Wall Street Journal, which cited people familiar with the matter, the transaction could carry a price tag of over $3.8bn.
That followed RPC's decision three days before to extend the deadline - for a fourth time - for its US suitor to launch an offer or throw in the towel.
On that occasion the company also informed financial markets that due diligence for a potential transaction had already been completed.
The reported value of the transaction would be roughly in-line with the target price for the stock which some City- based analysts had as recently as November.
Reports of a possible deal first surfaced in early September.
Shares of RPC ended the Monday session up by 0.25% to 726.6p, giving the plastic packaging supplier's shares a market value of roughly £2.953bn.