Merger and acquisition activity involving Irish companies remained at a very strong level during the third quarter of 2006 with 57 separate deals in the quarter compared to 31 deals in the same period in 2005, the latest M&A Tracker survey from corporate finance specialists Ion Equity reveals.

PAPER and packaging firm Smurfit Kappa Group (SKG) has seen its first-half loss nearly double.

IRISH companies were involved in merger and acquisition (M&A) deals worth over €3.8 billion in the three months to September, according to new figures from corporate finance specialists Ion Equity.

PROFITS at the paper and packaging group Jefferson Smurfit slipped in the three months to the end of June.

TERENURE PRINTERS of Dublin is to close with the loss of more than 160 jobs.

Brian O’Mahony, Chief Business Correspondent

Brian O'Mahony, Chief Business Correspondent

JEFFERSON Smurfit Group, which has announced it has engaged in merger talks with rival packaging group, Kappa Packaging, yesterday reported a fall of 11% in first quarter pre-tax profits.

Jefferson Smurfit is to close the Smurfit Paper Mill in Clonskeagh, Dublin, with the loss of 58 full-time and 12 part-time jobs.

Jefferson Smurfit Group today announced it has signed an agreement to sell its Munksjö specialty paper business to the EQT III Fund for approximately €450m.

A leading newspaper printer was hit with the largest fine yet for health and safety breaches today, after one worker lost a leg and another had skin ripped off a hand in separate accidents.

Packaging company Jefferson Smurfit Group plans a €300 million securitisation using trade receivables in September, a source close to the deal said yesterday.

JEFFERSON Smurfit is in talks to sell its Swedish speciality paper business, Munksjö, in a deal that could be worth up to €500 million.

David Curtin has been appointed as the new chief executive of IE Domain Registry (IEDR).

PRE-TAX profits at Jefferson Smurfit Group fell by 95% last year to just €12m, compared to €23.8m in 2002.

MERGER and acquisition activity in the third quarter maintained its upward momentum but the value of completed deals fell by 82% year-on-year to €1.5bn, it emerged yesterday.

FORMER Fine Gael minister Sean Barrett told the Moriarty Tribunal yesterday he considered businessman David Austin, who handled a controversial $50,000 Telenor/Esat Telecom donation to the party, to be an honest man.

FORMER US President Bill Clinton has forked out 1.2 million for a lavish apartment which he hasn’t yet viewed at The K Club in Co Kildare.

FALLING share prices led to a record year for company buyouts in Ireland with deals hitting €5bn in 2002, lead by the €3.5bn delisting of Jefferson Smurfit.

Thomas Crosbie Holdings (TCH) has bought The Irish Post from Jefferson Smurfit for €2.4m in its first move into the UK market.

Marrackech is to shed 30 jobs, in an effort to cut costs.

THE ISEQ index closed 20.80 points higher yesterday at 4278.72 in low volume trading.

Shareholders in multinational paper and packaging group Jefferson Smurfit have voted overwhelmingly in favour of a takeover by the United States company Madison Dearborn Partners.

THE ISEQ share index ended 1% lower at 4,186.8 points yesterday in scant trade due to a national holiday.

AFTER a mixed day of trading the ISEQ index closed slightly lower yesterday at 4113.44, a fall of 21.01 points.

The prospect of a bidding war for packaging giant Jefferson Smurfit faded today after an unnamed suitor bowed out.

TEXAS Pacific Group, the American venture capital firm headed by Ryanair chairman David Bonderman, have pulled out of an offer for Jefferson Smurfit.

Jefferson Smurfit is to hold talks with a new potential bidder.

Taoiseach Bertie Ahern has opened a €75m printing facility for Rupert Murdoch's News International group.

The Jefferson Smurfit Group is confirming that an approach has been made by an American company with a view to a takeover.

Irish packaging firm Jefferson Smurfit has reported flat profits, but says its half-year figures are a creditable performance in a "demanding operating environment".