Share Prices & Company Research

Market News

23 Jan 2019 | 07:24

RPC accepts £3.32bn takeover bid from Apollo Management

Plastic packaging supplier RPC Group said it had accepted a £3.32bn takeover bid from private equity firm Apollo Management.

Apollo offered 782p in cash for each RPC share after making an initial approach last September.

RPC said the offer represented a 15.6% premium to its shares' closing price on 7 September and a value of £3.32bn for its issued and to be issued share capital.

'The board believes that the offer recognises the quality of RPC's businesses and the strength of their future prospects,' chairman Jamie Pike said.

'In July I stated that differing investor views on the appropriate level of gearing was constraining the group's ability to pursue opportunities for growth and, as such, putting pressure on RPC's valuation.'

'I also said that the board was working to resolve this situation.'

'Today's announcement is the culmination of that process.'

'The Board believes that the offer of £7.82 per share is a good outcome for shareholders and intends to recommend unanimously that they accept this offer.'

Story provided by
Get in touch today
Join Redmayne Bentley
Talk to us now about opening a new account or transferring your account from another provider
0113 243 6941
Get in touch today
Contact your local office
Contact your local office to find out more
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
We use cookies on this site to improve your experience and help us provide you with a better website. An explanation of the cookies we use and their purpose can be found within our Cookie Policy. Your continued use of this site means you consent to the use of cookies.