Bain drops bid for RPC Group; Apollo still in the running

Bain drops bid for RPC Group; Apollo still in the running

RPC Group has revealed that it is in talks with Apollo Global Management regarding a potential sale to the US private equity firm, according to a report published by Bloomberg.

Apollo is the only remaining interested party after Bain Capital declined to make further bids. The outcome of talks will be known on December 21, by which time Apollo must either make an offer or pull out of the bidding.

“A further announcement will be made when appropriate,” read a statement issued by RPC on Monday, per Bloomberg. “There can be no certainty that any offer will be made for the company, nor as to the terms on which any offer might be made.”

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