JSG reevaluates Smurfit-Stone stake.(Jefferson Smurfit Group, Smurfit-Stone Container Corp.)(Brief Article)
Official Board Markets, March, 2002
The Jefferson Smurfit Group (JSG) Plc, Dublin, will reevaluate its options over the group's 30 percent stake in Smurfit-Stone Container Corp., Chicago, Chief Executive Gary McGann says, as reported by the Dow Jones. Speaking at an NCB annual investor conference, McGann says Smurfit's options are to put both companies together or divest.
He says the current status quo is not one of the options under consideration. "We accept that the current structure of the group is a factor in the undervalued nature of our shares," he says. "We're totally open-minded on the options, but we don't believe we've forever to address this issue since (Smurfit-Stone) shares are underperforming in the peer group." McGann says the timing would depend on market...
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