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Apollo, Bain get extension for RPC Group takeover bids

RPC Group PLC secured the green light to continue its takeover talks with private equity firms Apollo Global Management LLC and Bain Capital LP, Bloomberg News reported, citing a statement from the U.K. packaging maker.

The U.K.'s Panel on Takeovers and Mergers extended the deadline for the buyout firms to make a firm offer to Nov. 5 from an earlier deadline of Oct. 8, the company statement noted.

RPC has a market capitalization of about £3.16 billion, and shares of the company dropped 4.18% in trading Oct. 8, according to S&P Global Market Intelligence data.

Bain and Apollo representatives did not comment on the matter, according to Bloomberg.