Jefferson smurfit group makes a private exit, Corrugating International, October 2002 (44KB)
If we judge the competition simply By its outcome, then it appears that Madison Dearborn Partners (MDP) has played a finely judged game in its attempt to win control of Ireland’s Jefferson Smurfit Group (JSG). By August 7 on the first closing date of the investment firm’s conditional offer, the directors of Madison Dearborn Capital Partners Acquisitions were already able to announce that their deal had been accepted by 83.19% of Smurfit’s shareholders. Two weeks later when the second closing date of the offer was up, acceptances reached 1,001,360,162 JSG shares, or approximately 92.14% of JSG’s issued share capital. And by September 3, the bid was declared unconditional, finally ending any last faint prospect of a juicy bidding war for one of the world’s largest packaging groups.
Jefferson smurfit group makes a private exit, Corrugating International, October 2002 (44KB)