Family set to scoop 350m in deal
MDP made its first approach late last year and held preliminary discussions with the company about a possible offer between November 2001 and February this year.
It was during this period that it indicated an offer of 1.97 per share, excluding spinning-off Smurfit Stone Container Corporation. MDP at that stage had not considered asking the Smurfit management to become part of the bid, the offer document which sent to shareholders claims.