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.