Law Offices of Howard G. Smith Announces Investigation On Behalf of Shareholders of Smurfit-Stone Container Corporation, in C...
January 25 2011 - 7:30PM
Business Wire
Law Offices of Howard G. Smith announces that it is
investigating potential claims against the board of directors of
Smurfit-Stone Container Corporation (“Smurfit-Stone” or the
“Company”) (NYSE:SSCC) related to the Company’s agreement to be
acquired by RockTenn Company (“RockTenn”). The proposed transaction
– 50% stock and 50% cash – is valued at approximately $3.5
billion.
Under the terms of the definitive agreement entered into by the
parties, Smurfit-Stone stockholders will be entitled to receive
0.30605 shares of RockTenn common stock and $17.50 in cash, for
each share they own of Smurfit-Stone common stock. The proposed
transaction values Smurfit-Stone common stock at $35.00 per share.
If the proposed transaction is completed, Smurfit-Stone will become
a wholly owned subsidiary of RockTenn. The transaction is expected
to be completed in the second quarter of 2011. The investigation
concerns possible breaches of fiduciary duty and other violations
of law related to approval of the proposed transaction by
Smurfit-Stone’s board of directors.
If you are a shareholder of Smurfit-Stone, if you have
information or would like to learn more about these claims, or if
you wish to discuss these matters or have any questions concerning
this announcement or your rights or interests with respect to these
matters, please contact Howard G. Smith, Esquire, of Law Offices of
Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem,
Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at
(888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or
visit our website at http://www.howardsmithlaw.com.
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