New Offering for Jefferson Smurfit
Staff -- graphic arts online, 7/1/2002
The Texas Pacific Group, a private equity firm in Fort Worth, Tex., is considering a rival bid to acquire the Irish paper and packaging conglomerate Jefferson Smurfit Group, after Chicago-based private equity firm Madison Dearborn Partners announced a $2.3 billion offer last month.
Madison Dearborn valued the company at $2.27 billion; it also would assume $1.42 billion in debt. At issue is the fate of Smurfit Stone Container, a subsidiary in Chicago, which the prospective acquirer does not want.
Other potential suitors are said to include Stora Enso and Mondi, a unit of Anglo American.
