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Non-Tech : Jefferson Smurfit (JJSC) and Stone (STO) To Merge?
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To: margaret foley who wrote (8)11/14/1998 12:28:00 PM
From: Michael Stavy  Read Replies (1) of 18
 
Some recent news about the merger.

    CHICAGO, Nov 13 (Reuters) - Stone Container Corp. said
Friday that the plaintiffs in its Series E preferred stock
lawsuit have withdrawn their request for an injunction to halt
a stockholders vote on the company's pending merger with
Jefferson Smurfit Corp. (NASDAQ:JJSC).
    The company said in a statement that the stockholder vote
will proceed as scheduled on Nov. 17 and it expects the merger
will close the following day.
    Stone Container had previously announced that on Oct. 20
two its its Series E preferred stockholders filed a suit
alleging that the company was violating its certificate of
incorporation by failing to call a meeting of preferred
stockholders for the purpose of electing two directors.
    The plaintiffs also allege that Stone Container is seeking
to change the preferred stockholders' rights in connection with
its pending merger without a two-thirds vote of preferred
stockholders.
    "The plaintiffs in the action have indicated that they will
continue to seek damages for the allegations in their original
complaint at a proceeding to be heard in Delaware Chancery
Court early in the first quarter of 1999," Stone Container
said.
    Stone Container said last month that it believes the
request for injunctive relief is without merit.
chicago.equities.newsroom@reuters.com))

Copyright 1998, Reuters News Service
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