Last Minute Move To Block SSCC Sale

摘要

A judge was expected to rule last week on a petition by investors in Smurfit-Stone that he block the $35 billion sale of the company to Rock-Tenn Co., Bloomberg reported. The request alleged that Smurfit-Stone directors didn't properly shop around to get the highest bid for the company and allowed Rock-Tenn executives to include language in the deal to scare off other potential suitors, Stuart Grant, a lawyer for these shareholders, argued. Delaware Chancery Court Judge Donald Parsons said he would rule on the investors' request to block the buyout by May 20, the news source said.