<Return to MAIN INDEX page>

<Return to : ( FLOOD-Tribunal-of-Inquiry-1997-11-4-Established.htm )>

<Return to : ( MORIARTY-Tribunal-of-Inquiry-1997-09-26-Established.htm )>

<Return to : ( SMURFIT-CASH-PAYMENTS-1989-to-Mr-Charles-Haughey-&-Fianna-Fail.htm )>

<Return to : ( GUINNESS-&-Mahon-BANK-1994-08-31-&-1998-12-31-SALEs.htm )>


DATE INFORMATION  EVENT SOURCE AUTHOR
  24th June         1990
Letter to the Editor from Mr Richard Brown
 INDEPENDENT  Mr Richard Brown
  25th November1990
Bunhill : Ireland's man of Leisure
 Independent on Sunday  
       
  18th Feburary  1993 Paper Makers attack DTI  INDEPENDENT  Paul Durman
    7th  May        1993
Profits plunge-at Jefferson Smurfit
 INDEPENDENT  John Murray
  13th August     1993
 SMURFIT ARM IN RED
 INDEPENDENT  Business and City
  15th October   1993
Bottom Line : Jefferson must sit tight
 INDEPENDENT  
  23rd October  1993
JeffersoSmurfit fell 8p to 213p
 INDEPENDENT  Derek Pain
   6th November1993
Country Matters: The Liffey winds sweetly past
 INDEPENDENT  DUFF HART-DAVIS
       
     5th May      1994
J.S. Corp. RESTRUCTURING & $13/share & $1.4 million BONUS for Dr. Smurfit
 Irish Times   Mary Canniffe
12th May     1994
Howard Kilroy conjures $2.45 BILLION from equity & DEBT & profits FALL
 Irish Press  Geraldine Harney
   26th May     1994
 ' K ' Club EXPANDS , drainage-problems , 15 Apartments on sale and Planning
 Permission for 24 more Apartments and 20 Houses on the ' golf course '...
 Irish Independent  Matt Cooper
       
    8th May      1998 Letter from the Chairman , Michael W.J. SMURFIT , to holders of 6% Cumulative Preference Shares in  JEFFERSON SMURFIT GROUP PLC    Michael W. J. SMURFIT
    8th May      1998 Notice of an EXTRAORDINARY General Meeting of  JEFFERSON SMURFITGROUP PLC from the company Secretary , M.R.J. Pettigrew    M. R. J. Pettigrew
    8th May      1998 Notice of a CLASS Meeting to  holders of 6% Cumulative Preference Shares in JEFFERSON SMURFIT GROUP PLC from  M.R.J. Pettigrew    M. R. J. Pettigrew
  11th May       1998
JEFFERSON SMURFIT CORPORATION AND STONE CONTAINER CORPORATION ANNOUNCE MERGER AGREEMENT
   
  12th June       1998
Smurfit cutting back on leisure 
 Irish Independent  Cyril Hardiman
  11th October 1998
Smurfit in Land Dispute with ethnic Colombians
 Sunday Tribune  Richard Oakley
       
  1st March      1999 Mr Ray M. CURRAN replaces Roger Stone as president & CEO of SSCC    
  12th May       1999      Mr Ray M. CURRAN got $1,000,000 from SSCC to relocate to the U.S.A.
                                                     in 1998
 Irish Independent  Cyril Hardiman
  19th May       1999
Smurfit inherited a dispute over Ancestral-Landrights
 Irish Times   Michael McCaughan
  19th May       1999
Report on SMURFIT  'activities' in Columbia
 Irish Times   Michael McCaughan
       
  28th June       2000
£50,000 from Smurfit ' never reached Fianna Fail '
 Irish Independent   MORIARTYTribunal
  29th June       2000
Was there a doctor in the house?
 Irish Independent   Miriam Lord
  29th June       2000
Haughey 'solicited' a £60,000 donation from me Smurfit says
 Irish Independent  MORIARTYTribunal
  29th June       2000
Smurfit gave £60,000 to  Haughey for Fianna Fail
 Irish Times  MORIARTYTribunal
  29th June     2000
Questions about FF documents remain unanswered
 Irish Times  MORIARTYTribunal
        June  2000
SMURFIT (JEFFERSON) GROUP PLC
 PricewaterhouseCooper
 Corporate Register
 
       
       
       
          January    2002
Mr Ray M. CURRAN resigns from SSCC in controversial circumstances
               
          June         2002
MADISON DEARBORN bids 3.2  BILLION EURO'S for 
SMURFIT (JEFFERSON) GROUP PLC
        
   
 Thursday , 25th May 2006 .......BBC Radio 4 report on the CRIMINAL SCANDAL involving U.S. corporate giant  ENRON  dating back to 1997  , and the 
largest corporate " COLLAPSE "  in U.S. business history...so far...ar...
   
 Thursday , 25th May 2006 .......BBC Radio 4 report on the Verdict in the ENRON trial dating back to 2001 ,
and the  largest corporate " COLLAPSE "  in U.S. business history...so far...
Paul McNulty , the U.S. Deputy-Attorney-General speaks his mind... 
   
 Thursday , 5th May 2006 .......BBC Radio 4 report on the outcome  of the ENRON trial dating back to 2001 , with a WARNING to corrupt corporate executives from the Public Prosecutor.....

 

        1990
    June                    .24

 

         1990
    November           .25
 
 
 
 
 
 
 

   

 

 IND is the INDEPENDENT newspaper in London , England , Europa ( Now owned by Sir. A.J.F. O'Reilly )

        1993
    Feburary              .18

 

        1993
    May                    .07

 

        1993
    August                 .13

 

        1993
    October               .15

 

        1993
    October               .23

 

' STRAFFAN HOUSEaka ...the ' K ' Club..( 11th ).
        1993
    November           .06

 

        1994
    May                    .05

 

        1994
    May                    .12

 

        1994
    May                    .26
 
      1998
    May                    .08  An EXTRAORDINARY GENERAL MEETING of the JEFFERSON SMURFIT GROUP PLC is announced on the 8th of 
 May 1998  - just three days before the announcement of the SMURFIT STONE merger on the 11th of May 1998.

 The date of the EGM , the 11th of June 1998 , is one month to the day after the announcement of the merger.
 

        1998
    May                    .08
        1998
    May                    .08
        1998
    May                    .08
        1998
    May                    .08
        1998
    May                    .08
        1998
    May                    .08

 
        1998
    May                    .08

   1998
    May                    .08
 

 

        1998
    May                    .11
 

MERGER AGREEMENT between JEFFERSON SMURFIT CORPORATION and STONE CONTAINER CORPORATION 


 Jefferson Smurfit Corporation ,  the 46.5% owned associate of the Jefferson Smurfit Group and Stone Container
 Corporation  have announced that they have signed an agreement to create one of the world's largest manufacturers of 
 paperboard and paper-based packaging products. 
 It will  be called Smurfit-Stone Container Corporation , and will be an integrated producer of corrugated containers, 
 Industrial bags, folding cartons, containerboard and recycled paperboard and with annual sales of US dollars 8 billion.
 

 Jefferson Smurfit Group PLC  has agreed to purchase 20 million common shares of Jefferson Smurfit Corporation
 from 'certain ' investors including the Morgan Stanley Leveraged Equity Fund II, L.P., a fund managed by the Private
 Equity Group of  Morgan Stanley Dean Witter & Co. at a price of  US $25 per share (with interest and an additional 
 payment of up to 50 cents a share if the stock trades above US dlrs 28 shortly after closing).

 Following the closing of the transaction and the purchase of these shares, JSG will own approximately 33 per cent of the 
 primary shares of  Smurfit-Stone Container Corporation

 Other investors will own approximately 9 per cent ( this includes Morgan Stanley Dean Witter & Co. and others...)

 The public will own 57 per cent

 The merger is subject to the approval of Jefferson Smurfit Corporation and Stone shareholders and other regulatory 
 approvals 
 The share purchase is subject to completion of the merger.

 Dr. Michael W.J. Smurfit, Chairman and CEO of Jefferson Smurfit Group PLC said that  this deal 

   "will make the Smurfit Group and its associates a world leader in paper-based packaging products. Together, 
    we will be a leader in North America, Latin America and Europe with an estimated 11 per cent share of global 
    containerboard sales and an enhanced geographic presence in three continents."

 The Jefferson Smurfit Group PLC and Smurfit-Stone Container Corporation will be a global player dominating 3 continents :

 USA                 64%
 Europe              30%
 Latin America       6%


 Smurfit-Stone Container Corporation  operations in Latin America consist of mills and converting plants in Venezuela
 and Argentina and corrugated converting capacity in Mexico and Chile.
 Jefferson Smurfit Group ADRs, each equal to ten ordinary shares, trade on the New York Stock Exchange under the 
 ticker symbol JS. Jefferson Smurfit Group ordinary shares trade in Dublin and London, and information can be accessed 
 on Bloomberg under the symbols SMFT.ID and SMFT.LN respectively and on Reuters under SMFT.I and SMFT.L.

 Jefferson Smurfit Group's home page: http://www.smurfit.ie/

 Divestitures Will Narrow Focus on Packaging and Reduce Debt

 Clayton, Montana, and Chicago, May 11 - Jefferson Smurfit Corporation (Nasdaq: JJSC) and Stone Container
 Corporation (NYSE: STO) jointly announced today that they have signed a definitive merger agreement to create one of 
 the world's largest manufacturers of paperboard and paper-based packaging products, with a combined enterprise value 
 (equity and debt) of approximately dlrs 11 billion. The merged company, to be called Smurfit-Stone Container Corporation,
 will be a focused, integrated producer of corrugated containers, folding cartons, industrial bags, containerboard and 
 recycled paperboard, with annual sales exceeding dlrs 8 billion, based on 1997 results.

 Under the terms of the agreement, which has been approved by the boards of directors of both companies, common 
 shareholders of Stone Container would receive 0.99 shares of Jefferson Smurfit Corporation, renamed Smurfit-Stone 
 Container Corporation, for each common share of Stone Container. Based on Jefferson Smurfit Corporation's closing share 
 price of dlrs 20.50 per share on May 8, this represents a value of dlrs 20.30 per Stone Container share. Shareholders of 
 Jefferson Smurfit Corporation will hold one share in the renamed Smurfit-Stone Container Corporation for each share of 
 Jefferson Smurfit Corporation. Holders of Stone Container's convertible debt securities and series E preferred stock will 
 have the right to convert such securities into Smurfit-Stone common stock under the same terms and conditions adjusted for 
 the exchange ratio of 0.99 to one.

 The transaction is expected to be tax-free to the shareholders of both companies. It is also expected to be earnings 
 accretive and cash flow positive in the first full fiscal year following the completion of the transaction, and will be treated as
 a purchase for accounting purposes.

 In addition, a subsidiary of  Jefferson Smurfit Group plc of Dublin, Jefferson Smurfit Corporation's largest shareholder, 
 has agreed to buy 20 million common shares of Jefferson Smurfit Corporation from certain investors including The 
 Morgan Stanley Leveraged Equity Fund II, L.P., a fund managed by the Private Equity Group of Morgan Stanley
 Dean Witter & Co. , at a price of dlrs 25 per share (with interest and an additional payment of up to 50 cents a share if 
 the stock trades above dlrs 28 shortly after closing), conditional upon completion of the merger. Following the closing of the 
 transaction, Jefferson Smurfit Group will own approximately 34 per cent of the primary shares of Smurfit-Stone
 Container Corporation ,Morgan Stanley Dean Witter & Co and ' certain other investors ' will own approximately 
 9 per cent and the remaining 57 per cent will be owned by the public.

 Dr. Michael W.J. Smurfit, 61, chairman of Jefferson Smurfit Corporation, will become non-executive chairman
 of Smurfit-Stone Container Corporation

 Roger W. Stone, 63, currently chairman, president and chief executive officer of Stone Container, will be president and 
 Chief Executive Officer of Smurfit-Stone Container Corporation. 

 Ray M. Curran, 51, currently finance director of Jefferson Smurfit Group PLC, will be executive vice president - 
 deputy chief executive. 

 Patrick J. Moore, 43, vice president and chief financial officer of Jefferson Smurfit Corporation, will be vice president and 
 chief financial officer of the merged company.

 Commenting on the merger, Dr. Smurfit said, 

  "This transaction creates  thepremier paper-based packaging company, while creating value for the shareholders
   of Jefferson Smurfit Corporation and Stone Container. Smurfit-Stone Container Corporation will have a 
   singular focus on packaging that will create an outstanding partner for our customers."

 Roger Stone said, "The complementary strengths of Stone Container and Jefferson Smurfit will create a company with an 
 improved cost structure and reduced earnings volatility, capable of strong performance throughout the industry cycle. The 
 merged company plans to significantly reduce debt by divesting non-core businesses and assets, which will enhance financial 
 flexibility."

 The merger is expected to generate annual operational and financial cost savings, before any planned asset divestitures,
 in  excess of dlrs 350 million. The merged company will be able to reduce expenses and increase efficiencies by optimising 
 the manufacturing system, eliminating redundant overhead costs, and utilizing increased purchasing volume. The combination
 provides the opportunity to achieve substantial savings through reductions of working capital as well as reduced interest 
 expense in connection with planned refinancing. These annual cost savings are expected to be achieved within the first 24 
 months. To cover the costs of implementing these plans, Smurfit-Stone Container Corporation expects to take a 
 reorganisation charge in the quarter during which the merger is completed. The amount of the charge has not been 
 determined.

 A major priority of Smurfit-Stone Container Corporation will be to substantially reduce debt by divesting non-core 
 businesses and assets.
 At year-end 1997, the pro forma debt of the two companies was DOLLARS  $6.4 billion.
 

 The board of Smurfit-Stone Container Corporation will consist of 12 members. Dr. Smurfit, Mr. Stone and Mr. Curran
 will be members of the board. In addition, Jefferson Smurfit and Stone Container will each name four members of the 
 board,  with at least two of each company's nominees to be independent members. MSDW will name one member to the 
 board.

 The transaction is subject to certain conditions, including the approval of Jefferson Smurfit Corporation and Stone 
 Container's shareholders and domestic and foreign regulatory clearances. Closing of the merger is also conditional upon 
 the completion of the 20 million share purchase by a subsidiary of Jefferson Smurfit Group from  and certain other 
 investors.   A subsidiary of Jefferson Smurfit Group and Morgan Stanley Dean Witter & Co., which in the aggregate own a
 majority of Jefferson Smurfit Corporation's shares, Morgan Stanley Dean Witter & Co. have agreed to vote in favour of
 the transaction. It is expected to close in the fall.

 The corporate headquarters of Smurfit-Stone Container Corporation will be in Chicago.

 In a separate transaction, a subsidiary of Jefferson Smurfit Group has agreed to sell its containerboard machine located at 
 the Jefferson Smurfit Corporation mill in Fernandina Beach, Florida, to a subsidiary of Jefferson Smurfit Corporation. The 
 purchase price is dlrs 175 million and the transaction is expected to close by January, 1999. In the event the merger is not 
 consummated, Jefferson Smurfit Corporation will have an option to cancel or rescind the transaction.

 Headquartered in Clayton, Missouri, Jefferson Smurfit Corporation is a focused, integrated producer of paper, 
 paperboard and packaging. It is the industry's largest collector, marketer, and exporter of recovered fibre. The company 
 operates more than 150 mills and converting facilities and employs nearly 16,000 people.

 Stone Container Corporation is a leading producer of unbleached paper and packaging producer. Its product lines 
 include containerboard, corrugated containers, kraft paper, and paper bags and sacks. Headquartered in Chicago, the 
 company has 201 manufacturing facilities and sales offices in North America, Europe, Central and South America, Australia 
 and Asia, and employs more than 20,000 people.

 Jefferson Smurfit Group plc is a global manufacturer of paperboard, paper and paper-based packaging, based in Dublin, 
 Ireland. In addition to its investment in Jefferson Smurfit Corporation, it has major manufacturing facilities throughout
 Europe and Latin America.

 This document contains certain forward-looking statements within the meaning of Section 21 E of the Securities 
 Exchange Act of 1934, as amended, about Jefferson Smurfit Corporation, Stone Container Corporation and the 
 combined company. Although the companies believe that, in making any such statements, their expectations are based on 
 reasonable assumptions, any such statement may be influenced by factors that could cause actual outcomes and results to 
 be materially different from those projected. When used in this document, the words 'anticipates,' 'believes,' 'expects,' 
 'intends,' and similar expressions as they relate to Jefferson Smurfit Corporation, Stone Container Corporation or the 
 combined company or their respective managements are intended to identify such forward-looking statements.

 These forward-looking statements are subject to numerous risks and uncertainties. Important factors that could cause 
 actual results to differ materially from those in forward-looking statements, certain of which are beyond the control of 
 Jefferson Smurfit Corporation, Stone Container Corporation or the combined company include: the impact of 
 general economic conditions in the U.S. and Canada and in other countries in which the companies and their subsidiaries
 currently do business (including Asia, Europe and Latin and South America); industry conditions, including competition and
 product and raw material prices; fluctuations in exchange rates and currency values; capital expenditure requirements; 
 legislative or regulatory requirements, particularly concerning environmental matters; interest rates; access to capital
 markets; the timing of and value received in connection with asset divestitures; and obtaining required approvals, if any, of 
 debt holders. The actual results, performance or achievement by Jefferson Smurfit Corporation, Stone Container 
 Corporation or the combined company could differ materially from those expressed in, or implied by, these 
 forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the
 forward-looking statements will transpire or occur, or if any of them do so, what impact they will have on the results of 
 operations and financial condition of Jefferson Smurfit CorporationStone Container Corporation or the 
 combined company.


 

        1998
    June                     .12

 

 

        1998
    October               .11

 

        1999
    March                  .01  On the 1st of March 1999 , the president , CEO of SMURFIT-Stone Container Corp. , Mr Roger W. Stone announces his 
 retirement from the company from the 31st of March 1999.

 In his retirement address Mr Stone declared :

 " Our aim in merging Jefferson Smurfit Corp. and Stone Container was to join two outstanding companies to create one truly
   great company...
   ...Since completing the merger in November, our progress has been better than expected. Having played my part in bringing 
   the companies together and having initiated what promises to be a very successful integration process, I feel I can step down
   at this time.    I am confident that the Smurfit-Stone team will continue to create greater value for our customers and
   shareholders while providing new and exciting opportunities for our employees."

 Michael  Smurfit , the Chairman of Smurfit-Stone,   proclaimed :

 " In his 43 years of service, Roger Stone has made an outstanding contribution to his company and to the packaging industry. 
    Roger has been a leader in  restructuring  the industry, and he demonstrated that leadership once again in bringing his company 
    together with ours to create Smurfit-Stone. He brought his full energy and experience to the merger and helped build a strong 
    foundation for the new company. We wish him well in his future endeavors."

 MrRay M.Curran , the former Finance Director of JEFFERSON SMURFIT GROUP PLC , the largest shareholder in SMURFIT-
 Stone Container Corp. , was the person chosen by the Board of Directors of SMURFIT-Stone to replace Mr Roger Stone as 
 President and CEO of the company from the 1st of April 1999 (April Fools day ).

 Smurfit announced : 

 " I am pleased to announce that Ray Curran is assuming this post. I have worked with Rayfor many years, and I am fully 
    con fident of his abilities to assume the chief executive's responsibilities. In addition, the board has begun an immediate search
    for a chief operating officer to support him in his new role and to enable him to continue to carry out Smurfit-Stone's
    program of divestituresand synergies."
 


 

        1999
    May                      .12
 
   

 


 

 SMURFIT signed a statement agreeing to hold a meeting in Columbia..."...That meeting has yet to take place...

        1999
    May                    .19
   

 


 

 SMURFIT signed a statement agreeing to hold a meeting in Columbia..."...That meeting has yet to take place...

        1999
    May                    .19

 

        2000
    June                     .28

 

        2000
    June                     .29

 

        2000
    June                     .29

 

        2000
    June                    .29

 

        2000
    June                     .29

 
 
 
 
 


NOTE A : BANK OF IRELAND ASSET MANAGEMENT LTD
   are the major shareholders (6.04%) in ....................ALLIED IRISH BANK PLC      ( Bankers )

NOTE B : BANK OF IRELAND ASSET MANAGEMENT LTD
   and the major shareholders (5.8%) in ....................IRISH LIFE & PERMANENT PLC  ( Bankers )

NOTE C : BANK OF IRELAND ASSET MANAGEMENT LTD
   and also the major shareholders (11.4%) in .............SMURFIT(JEFFERSON)GROUP PLC ( Deforesters )

        2000
    June                     .xx
 
 
 
 
 
 


 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

 
         2002
    January               .00
 
 
 
 
 
 
 
 
 
 
 
 

 In January 2002 , Mr Ray Curran , resigned in controversial circumstances as Chief Executive of SMURFIT Stone 
 Container Corp , the 29% owned U.S. associate of JEFFERSON SMURFIT GROUP PLC.
 Mr Curran did not give any reason for his departure and got a $10 MILLION DOLLAR payoff and will get
 $2.2 million as ' a con sultant ' to SSCC...

 A letter setting out the terms of his departure states that Curran must "co-operate fully in any investigation, negotiation, 
 litigation or other action arising out of any transaction in which you were involved or of which you had knowledge during 
 your employment by the company".
 The group refused to confirm an internal audit was carried out at SSCC prior to Mr Curran's departure. It was also 
 reported some of the US top brass, whether board members from the US or some of the audit committee, flew to Dublin to 
 outline their concerns about SSCC at the time...
 
 

 

 
     June                   .00  In June 2002 , MADISON Dearborn , the Chicago-based finance house submitted a €3.2 billion
 bid for JEFFERSON SMURFIT GROUP PLC.
 Michael Smurfit, his brothers Dermot and Alan , and son Tony were expected to make €300 MILLION from their 
 shares in the paper and packaging firm. 
 It was reported that despite falling share price in recent years and declining profits this year, he remained the highest paid 
 chief executive in Ireland, taking over €10 MILLION in salary and bonuses over the past two years.

 

 
 

 
 
    December          .26

 
 

^ Top of page ^

<Return to : ( GUINNESS-&-Mahon-BANK-1994-08-31-&-1998-12-31-SALEs.htm )>

<Return to : ( SMURFIT-CASH-PAYMENTS-1989-to-Mr-Charles-Haughey-&-Fianna-Fail.htm )>

<Return to : ( MORIARTY-Tribunal-of-Inquiry-1997-09-26-Established.htm )>

<Return to : ( FLOOD-Tribunal-of-Inquiry-1997-11-4-Established.htm )>

<Return to MAIN INDEX page>