Ropak Corp., the Fullerton-based plastic packaging maker,...
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Ropak Corp., the Fullerton-based plastic packaging maker, said it will drop its proposal to acquire Vulcan Packaging Inc. of Toronto. Vulcan, which has 800 employees in 17 plants across Canada, did not respond to Ropak’s offer, made early last week, to pay $35 million (Canadian) for the company. Ropak officials said last week they are not interested in starting an unfriendly takeover bid and would deal with Vulcan only if the company is willing to sell. Ropak common stock closed in light trading Friday at $8 per share, unchanged from Thursday, while Vulcan common shares closed on the over-the-counter market at $2.69, up 12.5 cents for the day.
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