US Firm Behind Smurfit Bid, Says Co.

Published: May 17, 2002

DUBLIN, IRELAND -- Late last week, Irish packaging company Jefferson Smurfit Group confirmed the bid approach it received early this month was from Madison Dearborn Partners, a privately owned US equity house. Smurfit adds the bid discussion between the companies is at an early stage.

Smurfit also reports the creation of an independent committee of non-executive directors to consider the offer: "The independent committee… is empowered by the board to consider and take any appropriate action relating to the approach from MDP and in the best interests of shareholders," states Smurfit.

More information about Jefferson Smurfit can be found at smurfit-group.com.