Ropak Corp. Extends Standstill Agreement
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FULLERTON — Ropak Corp. said Monday that a special committee of its independent directors has agreed to extend an existing standstill agreement with Linpac Mouldings Ltd. of Birmingham, England.
Ropak said in a news release that Linpac has agreed not to acquire additional shares of Ropak capital stock through today.
The three-member committee earlier this month rejected as inadequate a $53-million bid by Linpac for Fullerton-based Ropak, a maker of plastic shipping containers. Linpac already owns about 45% of Ropak’s shares.
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