Jefferson Smurfit announced this afternoon it has acquired a majority stake in Swedish paper company Munksjo.
Earlier today Smurfit increased its bid for the remaining 66 per cent shareholding of Munksjo to 85 krone per share. The company raised its stake through purchases in the market today.
In January Smurfit offered 77 krona (€8.4) per share for the balance of the shareholding. Smurfit said that today’s offer would be its final offer for the company.
Munksjo has been an associate company of the Smurfit group since 1995. Smurfit said its offer aimed to simplify the overall group structure and was a "logical extension" of its interest in the Nordic market.