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Apollo nears $3.8 billion-plus deal for packaging group RPC: WSJ

RPC, which operates in 34 countries, on Monday had a market capitalisation of $3.8 billion

Reuters 

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Private equity company Global Management is in advanced talks to buy Europe's biggest Group for more than $3.8 billion, the reported on Monday.

on Friday extended the deadline to Jan, 23 for to make a firm offer or walk away.

Citing people familiar with the matter, the Journal said that a deal could be announced as soon as Tuesday.

Private equity has long been attracted to the sector's reliable cash flow and growing demand from online shopping, with a spate of takeovers by bigger packaging players further spurring their interest.

RPC, which operates in 34 countries, on Monday had a market capitalisation of 2.95 billion pounds ($3.8 billion).

The company said in September that it was in talks on a possible sale to and U.S. private equity firm Bain Capital, with the deadlines to make a firm offer extended repeatedly since then.

The FTSE mid-cap company ended talks with Bain in December.

declined to comment when contacted by and Apollo could not be reached for comment outside normal hours.

First Published: Mon, January 21 2019. 23:56 IST
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