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RPC says takeover decision deadline for potential suitor Apollo Global Management extended to 18 January

The FTSE 250-listed firm said: “Discussions are well advanced and Apollo has confirmed to RPC that its due diligence is now substantially complete.”

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The plastic packaging firm said a “further announcement will be made when appropriate”

RPC Group PLC (LON:RPC) said the takeover decision deadline for potential suitor Apollo Global Management to make an offer has been extended to 18 January, back from the already-extended deadline of this Friday.

In a brief statement, the FTSE 250-listed firm said: “Discussions are well advanced and Apollo has confirmed to RPC that its due diligence is now substantially complete.”

READ: RPC ends takeover talks with Bain, extends offer deadline for Apollo

The plastic packaging firm said a “further announcement will be made when appropriate”.

But, as always, the firm added: “There can be no certainty that any offer will be made for the Company, nor as to the terms on which any offer might be made.”

In early trading on Friday, RPC shares were 0.8% higher at 674.40p.

At the beginning of December, RPC revealed that it had ended takeover talks with US private equity firm Bain and given Apollo Global Management more time to make a firm offer.

It said the decision to terminate takeover discussions with Bain was mutual.

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