Smurfit family the losers as Powerflute takeover talks collapse

Shares in Irish-founded packaging company Powerflute fell over 2% yesterday after the Dermot Smurfit senior-chaired firm terminated discussions that could have led to the sale of the company.

Earlier this month, US private equity house, Madison Dearborn Partners approached the Finnish-based company, which has its shares listed in London, with an indicative takeover approach.

In response to that, Powerflute said it was considering the approach.