RPC suitor Berry says offer is final

22nd Mar 2019 08:48

(Sharecast News) - Berry Group has said it will not make a higher takeover offer for RPC Group unless the UK plastics manufacturer receives a better bid from someone else. The US-based plastics group made a 793p per share offer earlier this month, which the RPC board has recommended to shareholders, withdrawing support for the previous offer from private equity group Apollo of 782p.On Friday, Berry declared that the offer was "final and will not be increased", except that its reserves the right to increase the amount if there is an offer or a possible offer for RPC by a third party.Berry expects the acquisition to close early in the third quarter of the this year, with all regulatory filings having been submitted to the relevant authorities. Management and analysts are confident there will be no problems with anti-trust requirements.