Apollo Global Management may announce RPC takeover - WSJ

21st Jan 2019 17:51

(Sharecast News) - The acquisition of RPC Group by American private equity outfit, Apollo Global Management, could be announced as soon as Tuesday. 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.