Mondi to bid for Jefferson Smurfit?

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Related tags: Jefferson smurfit, Stora enso, Thomas jefferson

Anglo American declined to comment on recent press reports claiming
its wholly-owned paper packaging unit, Mondi, is to bid for
Jefferson Smurfit Group.

Anglo American declined to comment on recent press reports claiming its wholly-owned paper packaging unit, Mondi, is to bid for Jefferson Smurfit Group.

"It's just market speculation. We can't comment on that,"​ a spokesman for the group said.

He added that Mondi is currently on the acquisition trail, having recently acquired Russian Syktyvkar Forest Enterprise business. It also made an offer for France's La Rochette.

"Mondi certainly has been expanding. It continues to look at opportunities to bolster the value of the business,"​ he said.

Jefferson Smurfit also opted to stay quiet on the identity of the rival bidder, referring to last Friday's statement that it is to begin formal discussions with a "potential offer"​ that could rival Madison Dearborn's bid. "We only received one other approach. And talks (with that party) are progressing,"​ a company spokesman said.

Discussions should continue in "a number of weeks,"​ he added.

Jefferson Smurfit last Friday said the counter-offer came from an "unaffiliated financial party."

Early last week, it agreed a bid from American private equity firm Madison Dearborn, which valued that company at €3.70 billion. Texas Pacific and Stora Enso were among the companies rumoured to have made the rival approach.

Related topics: Processing & Packaging

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