Daily Mail

Value of pack­ager slashed by £192m

- Business · Investing · Bain Capital LLC · United States of America · Apollo Investment Corporation

TRADERS wiped £192m off RPC af­ter one of its suit­ors pulled out of a battle to buy the pack­ag­ing firm.

Pri­vate eq­uity firm Bain Cap­i­tal aban­doned the race for the Northamp­ton­shire com­pany, leav­ing fel­low US in­vestor Apollo Global Man­age­ment as the sole known bid­der.

It trig­gered dis­ap­point­ment among in­vestors who had been hop­ing the takeover fight would push up the price for buy­ing RPC.

Shares in the firm – which has 188 op­er­a­tions in 33 coun­tries and em­ploys around 20,000 staff – dropped 6.6pc, or 47.2p, to 669.6p.

RPC said yes­ter­day that dis­cus­sions with Apollo are con­tin­u­ing.

The pack­ag­ing com­pany has ex­tended the dead­line for Apollo to name an of­fer to De­cem­ber 21, the Fri­day be­fore Christ­mas.

RPC de­clined to com­ment on why the takeover talks with Bain had fallen through.

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