Outcome of vote on Smurfit takeover imminent

The outcome of a vote on the possible takeover of the Smurfit Corporation is expected to be known later this morning.

Yesterday, delegates at a meeting of the company’s shareholders voted on whether to accept or reject the takeover bid from the US firm Madison Dearborne.

The Chicago-based operation has offered €3.7bn for Smurfit, a deal that is expected to be endorsed when the votes are counted today.

All shareholders will have a final say on the takeover in a postal vote in two weeks’ time.