British RPC Group Inc., one of the largest manufacturers of plastic packaging in Europe, accepted the offer of the Apollo direct investment fund, the fund will buy RPC for $4.29 billion or 3.32 billion pounds sterling. RPC shareholders will receive 782 pence for each share and dividends worth 8.1 pence per share. The company accepted the Apollo offer due to the current economic situation, which creates risks for the business. The RPC purchase by the fund will add a 16% premium to the value of the company's shares at the auction, which will take place on September 7. The company increased revenue by 36% in the current fiscal year to 3.75 billion pounds ($4.83 billion). The company's profit increased by 92%. At the last auction on Wednesday, RPC shares rose in price by 4.8%.
Indonesia on Wednesday rolled out a 100 trillion Rupiah ($6.92 billion) loan guarantee scheme for prioritized businesses to keep them afloat as the COVID-19 situation continued to worsen around the world, the country’s finance minister ...
Bloomberg News reported on Thursday that Elon Musk’s Space Exploration Technologies Corp. (SpaceX) is in talks to raise new funds at a valuation of $44 billion. The aerospace company said that it is in discussions with a number of investors ...
After a record decline seen last quarter, Britain’s economy is expected to grow at its most rapid pace in decades. The recovery is likely as large portions of the economy resumed operations after coronavirus-related lockdowns were lifted. Despite ...
On Tuesday, Ebay Inc. (EBAY.O) announced that it had reached a deal to sell off its classified ads business unit to Adevinta ASA (AD5B), a Norway-based classified ads publisher owned by Danish media company Schibsted (SBSTA.OL). The classified ...
Property data and analytics company CoreLogic Inc on Tuesday rejected another $7 billion buyout offer, seeing it inadequate after meeting with the two bidders, investment firms Cannae Holdings Inc and Senator Investment Group LP. Cannae ...