UK packaging giant RPC Group Plc has extended the deadline for the submission of a possible buyout offer by the US-based Apollo Global Management for the fifth time.
The private equity fund has been in talks with RPC since last September, and was expected to announce its intention whether to buy or not to buy RPC by the end of business on 18 Jan.
In a statement on 18 Jan, the Rushden, Northamptonshire-headquartered packaging specialist said that Apollo now has until end of business 23 Jan to submit its proposal.
“Discussions with Apollo are at an advanced stage with due diligence complete,” said RPC, adding: “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.”
This is the fourth time RPC is extending the submission offer for Apollo's buyout offer, which could value the firm at £2.8bn (€3.1bn).