7th Feb 2019 09:49
LONDON (Alliance News) - Apollo Management IX LP on Thursday reported a drop in the amount of RPC Group PLC shares it has received letters of intent for after Eminence Capital sold some stock.
At the end of January, RPC agreed terms with Apollo Global for a GBP3.32 billion cash offer for the company.
Apollo previously received a letter of intent from Eminence, a shareholder of RPC, to vote in favour of the acquisition in respect of a total of 3.0 million RPC shares.
At the beginning of February, Eminence informed Apollo it had sold 726,169 shares. Since then Eminence has sold another 1.1 million RPC shares.
Therefore, Apollo's letter of intent from Eminence now remains valid for a total of 1.1 million RPC shares, or 0.3% of RPC's share capital.
RPC shares were trading up 0.2% at 794.20 pence on Thursday.
Related Shares:
Rpc Group