RPC Group clears another hurdle to selling company to Berry Global as EU regulators approve £3.3bn deal April 25, 2019 Packaging giant RPC Group has taken a step closer to tying up its sale to US counterpart Berry Global, after the European Commission cleared the acquisition yesterday. Read more: Berry Global snatches RPC buyout from private equity firm Apollo Regulators ruled that the £3.3bn takeover “would raise no competition concerns given the limited horizontal overlaps [...]
UK government’s £330bn coronavirus package could be targeted by criminals March 24, 2020 The UK government’s £330bn emergency coronavirus aid package risks being targeted by organised crime, said a white collar crime lawyer. Risks will centre around false applications for small business grants of up to £25,000 each – and boiler room fraud operations could see money evaporate as organised crime gangs game the system, the lawyer said. [...]
Bank of England publishes list of questions asked by suitors for its CBDC wallet January 4, 2023 The Bank of England has revealed more than 70 questions asked by applicants keen to win the contract create a wallet for its CBDC project.
RPC Group takeover: US-based Berry Global threatens to crash Apollo’s party January 31, 2019 Private equity firm Apollo’s takeover of plastic packaging manufacturer RPC group has come under threat after US company Berry Global said it was considering making a counter offer. Berry, another a plastic packaging supplier, said it had reached out to RPC for the due diligence information needed to make an offer, but also stressed it [...]
The final countdown: Are businesses prepared for the Libor transition? March 31, 2021 The countdown to the end of Libor has begun but the scale of the work involved in transitioning to the new rate is immense. For 40 years Libor has been the key benchmark for setting interest rates on various loans and contracts, underpinning trillions of dollars of transactions, before controversy hit. From today no new [...]
Profit slips at private equity takeover target RPC November 28, 2018 Plastics maker RPC today announced a slight dip in profit ahead of a deadline for its US private equity suitors to make firm bids for the business. RPC said its adjusted profit before tax fell two per cent to £188.9m in the six months to September 2018. Revenue for the six months was £1.892bn, a [...]
Private equity group Apollo seals £3.3bn deal for packaging giant RPC January 23, 2019 Private equity firm Apollo Global Management has agreed to buy packaging manufacturing giant RPC Group for £3.3bn. Each RPC shareholder will receive 782p cash for every share they own, 7.6 per cent up on the company’s closing price of 734p on Tuesday. The deal comes hours after Apollo pulled out of buying Arconic, the firm [...]
Calorie labelling to cost British businesses ‘tens of millions’ each year July 28, 2020 The Prime Minister’s announcement that restaurant and takeaway firms must introduce calorie labels on their menus will cost British businesses “tens of millions” of pounds each year, according to a new report. Boris Johnson yesterday announced the government will introduce compulsory calorie labels for restaurant, supermarket and takeaway meals as part of measures to crack [...]
Apollo’s £3.3bn buyout of RPC Group melts away as plastics giant turns to ‘superior offer’ from Berry Global March 8, 2019 A US rival has hijacked the £3.3bn takeover of plastic packaging giant RPC Group by private equity firm Apollo Management. RPC accepted an offer in January by private equity firm Apollo Global Management after months of negotiations, but this has been ditched in favour of a “superior offer” by Berry Global. Read more: RPC's £3.3bn [...]
RPC Group’s £3.3bn private equity takeover sparks disquiet among top shareholders January 23, 2019 Private equity firm Apollo Global Management’s £3.3bn buyout of packaging manufacturer RPC Group has sparked a row among investors, who feel they are getting a raw deal. Each RPC shareholder will get 782p cash for every share they own, 15.6 per cent up on the 683.6p closing price on 7 September, the last day before [...]