December 21, 2018 / 7:30 AM / 2 months ago

RPC pushes deadline for Apollo to make offer

Dec 21 (Reuters) - RPC Group Plc on Friday yet again pushed the deadline by which Apollo Global Management must make a firm offer to buy the London-listed plastics packaging firm or walk away.

The fourth such extension of the deadline gives the U.S. private equity firm time until Jan. 18 to make a firm buyout offer.

“Discussions are well advanced and Apollo has confirmed to RPC that its diligence is now substantially complete,” RPC said in a statement.

U.S.-based Bain Capital was also in discussions with RPC for a possible buyout but talks ended early this month, leaving Apollo in the lead to buy Europe’s biggest plastics packager. (Reporting by Samantha Machado in Bengaluru; Editing by Sai Sachin Ravikumar)

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