From Times Staff and Wire Reports

Ropak Corp. Reveals Merger Offer: The Fullerton plastics maker said a British competitor has offered to buy the company in a deal valued at $41 million and that the founding Roper family, which controls a 25.4% stake, favors the proposal. The family--led by Ropak executives and brothers William, Robert E. and C. Richard Roper--agreed to give Linpac Mouldings Inc. in Birmingham, England, the right to vote its shares on the merger proposal at a soon-to-be-scheduled shareholders meeting. Privately held Linpac, which already owns 8.5% of Ropak, is offering $10.50 a share in cash. The price of Ropak stock climbed $1 a share on news of the bid to close at $10 a share on the Nasdaq Stock Market.

Copyright © 2019, Los Angeles Times
EDITION: California | U.S. & World