28th Jan 2019 12:08
LONDON (Alliance News) - RPC Group PLC said Monday US banking giant JPMorgan Chase & Co now has a 5.2% stake in the FTSE 250-listed packaging firm in a transaction last Wednesday.
JPMorgan held 11.4 million shares in RPC after the transaction, equivalent to 5.2% of the 406.4 million shares outstanding. Of these, 2.7 million are stock borrows.
The holding of JPMorgan prior to the transaction, if any, was not disclosed. Shares in RPC were marginally lower at 765.80 pence on Monday.
On the same day as the transaction, RPC accepted a GBP3.32 billion takeover by Apollo Management IX LP in a deal which some shareholders have argued undervalues the firm and its growth prospects.
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