November 9, 1994
Ropak Corp., a major manufacturer of plastic shipping containers, said Tuesday that a special directors committee has hired an investment banking firm to evaluate a $53-million bid for the company. The committee of three outside directors retained Wertheim Schroder & Co. Inc. in New York to review the cash offer of $10.50 a share from Linpac Mouldings Ltd. in Birmingham, England, and determine if it is fair to minority shareholders. The Roper family, which controls 25.
March 22, 1995
A British company seeking to take over Ropak Corp. said Tuesday that it has begun its tender offer of $11 a share for the Fullerton packaging company's remaining stock that it doesn't already own. Linpac Mouldings Ltd. in Birmingham, England, which owns 57% of Ropak, increased its tender offer price from $10.50 a share, which a committee of outside directors had rejected previously as too low. The board decided not to make a recommendation to shareholders on the latest offer.
February 28, 1995
Ropak Corp. said Monday that an English plastics firm has purchased all the common stock held by the founding Roper family, in a deal worth at least $10.3 million. Linpac Mouldings Ltd. bought 985,520 shares of Ropak stock for $10.50 a share. In addition, stock options held by the Roper family for an additional 132,000 shares were canceled for payment of an additional, but undisclosed, amount by Linpac.
December 23, 1994 |
Ropak Corp. said Thursday that major shareholder Linpac Mouldings Ltd. has withdrawn its $44-million offer after being rebuffed by Ropak's directors. The action came after Fullerton-based Ropak rejected Linpac's proposal a second time. Ropak, a Fullerton-based maker of plastic shipping containers, turned down the same offer earlier this month, calling it inadequate. The offer was first announced in October.
December 3, 1994 |
A special directors committee at Ropak Corp., a major maker of plastic shipping containers, put a pending sale of the company in jeopardy Friday by calling a British firm's $53-million offer "inadequate." The three-member committee, basing its decision on a confidential report from a New York investment bank, rejected the $10.50-a-share bid by Linpac Mouldings Ltd. in Birmingham, England.