RPC soars after takeover talks confirmed

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RPC soars after takeover talks confirmed
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Shares in FTSE 250 plastics manufacturer RPC Group (LON:RPC) shot up by 17.53% to 803.42p (as of 12:25 BST) after the company confirmed that it was in talks with both Bain Capital and Apollo Global Management with regards to potential takeovers.

Management reiterated that there was no guarantee that a deal would take place and that further announcements would be made in due course.

RPC announced that it would be disposing of a number of non-core business units at the end of August including the sale of its Letica arm for a $95 million million consideration.

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