5th Nov 2018 08:36
LONDON (Alliance News) - RPC Group PLC said Monday it had extended the deadline for talks over a potential takeover by private equity firms Apollo Global Management and Bain Capital to early December.
In September, packaging firm RPC confirmed that Apollo and Bain had approached it with a potential deal to buy the FTSE 250-listed firm.
The original deadline for Apollo and Bain to either announce a firm intention to make an offer or step away from a deal under UK takeover rules was October 8. Early in October, this was extended until 1700 GMT on Monday.
RPC emphasised on Monday that "discussions remain ongoing" and consequently have agreed to extend the deadline further. With the fresh extension, the new deadline will be December 3 at 1700 GMT.
The firm will provide a further announcement "when appropriate" and added there was "no certainty" an offer would be made.
Shares in RPC were 0.8% lower at 776.00 pence on Monday, still 14% higher than prior to the talks being announced.
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