Ropak Corp.: The Fullerton plastic packaging company’s...
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Ropak Corp.: The Fullerton plastic packaging company’s majority stockholder, Linpac Moulding Inc. of Birmingham, England, said Wednesday it has raised its offer for the remaining shares to $11 a share.
In December, Ropak directors rejected Linpac’s bid to buy the stock for $10.50 a share as too low. Linpac, a privately held packaging company, is now appealing directly to Ropak stock holders with a cash tender offer valued at about $26 million. Ropak said its board has yet to discuss the new offer.
Linpac currently owns about 57% of Ropak’s stock. Ropak stock closed at $10.81 a share, up 56 cents a share.
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