Private equity company Apollo Global Management (APO.N) is in advanced talks to buy Europe’s biggest plastics packaging maker RPC Group (RPC.L) for more than $3.8 billion, the Wall Street Journal reported on Monday.
RPC on Friday extended the deadline to Jan, 23 for Apollo 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.
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