JSG says MDCP bid unconditional.(Jefferson Smurfit Group PLC declares Madison Dearborn Partners Inc.'s takeover bid for Smurfit-Stone Container Corp. unconditional)(Brief Article)

Official Board Markets, September, 2002

Last week Jefferson Smurfit Group PLC (JSG), Dublin, Ireland, declared Madison Dearborn Partners' takeover offer unconditional. The order by the High Court of Ireland affecting the spin-off of JSG's shareholding in Smurfit-Stone Container Corp. (SSCC) will become affective contemporaneously with the offer becoming unconditional.

It is anticipated the offer will be extended and will remain open for acceptances for at least a few more weeks. The filing of the court order will give effect to the capital reduction and the distribution of JSG's approximately 29.3 percent stake in SSCC to JSG shareholders in exchange for the cancellation of a portion of JSG's share capital.