RockTenn Agrees to Acquire Smurfit-Stone Container for About $3.5 Billion

Jan 23, 2011 Full story: Bloomberg 13

RockTenn Co. agreed to buy Smurfit- Stone Container Corp. for $3.5 billion, creating North America 's second-biggest containerboard producer.

Full Story
chessie man

Quinton, VA

#1 Jan 24, 2011
What can I expect from Rock Tenn as an employee?
smurfit-stoner

Montgomery, AL

#2 Jan 24, 2011
R.T. is going to run Stone so you should be ok. As a Smurfit-stone employee for 9 years I can tell you be thankful that S.S. didnt buy R.T. The mgrs at s.s. are by far the most tarded people ive ever worked for. If R.T. cleans house at all S.S. plants then this will be a great company.
chessie man

Quinton, VA

#3 Jan 25, 2011
They have pretty much cleaned house in West Point to get the head count down, a few more to go. Its so bad no one knows whos in charge. We have been in contract negotiations for a 1 1/2 yrs. We wonder what will happen now.
chessie man

Quinton, VA

#4 Jan 25, 2011
How can this be fair?
Pat Moore will get $59.5M in RockTenn sale

By: John Pletz January 24, 2011
(Crain's) The executives who carried Chicago's Smurfit-Stone Container Corp. out of bankruptcy protection in June and into an acquisition Monday are poised to reap millions when the company is sold to RockTenn Co.

RockTenn, based near Atlanta, is buying Smurfit-Stone in a half-cash, half-stock deal valued at $3.5 billion.

Outgoing CEO Patrick Moore, who ran Smurfit from Creve Coeur, Mo., and had announced plans to retire in March, already was in line for a $3.5-million bonus for leading the company through bankruptcy. Including stock and options that will vest automatically with the sale, he'll walk away with total gains of $59.5 million, according to securities filings.

General Counsel Craig Hunt is in line to receive equity gains worth $7.2 million, and severance payments worth $1.7 million if he is not retained by RockTenn or leaves for "good reason," according to filings.

Steven Strickland, senior vice-president for containerboard operations, has equity grants worth $5.1 million and potential severance of $1.5 million.

Smurfit shareholders are receiving $17.50 in cash and RockTenn stock valued at $17.50 a share a 27% premium over Friday's closing price for Smurfit stock.

Its shares closed Monday at $35, a 27.2% gain on the day.

Smurfit is a cardboard and packaging giant with a half-dozen facilities in the Chicago area and deep ties to the region. The combined company will have $9 billion in sales and rank as the No. 2 cardboard maker behind International Paper Group.

The new company's headquarters will be in Norcross, Ga. Smurfit-Stone is jointly based in Chicago and suburban St. Louis.

Smurfit employs about 800 in the Chicago area. The company said it is too early to talk about future employment or facilities needs. RockTenn has three facilities and about 150 people in Northern Illinois.




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Since: Jan 11

Alton, IL

#5 Jan 26, 2011
They can afford it after raping our pension. From what i have seen, Rock tenn employees are very happy with their jobs and bosses
chessie man

Quinton, VA

#6 Feb 1, 2011
Anybody else out there got any info on Rocktenn or are you to scared to talk.
localman

West Point, VA

#7 Feb 18, 2011
Rocktenn, you must not be any better than Smurfit. You'll let Smurfit demoralize the whole work force in West Point, one of the major money makers in the Smurfit buy. You let Smurfit do the dirty work and you waltz in and take over. Moore and Klinger are both crooks who took Smurfit into bankruptcy and now reaping he rewards coming out of it(20 and 24 million a piece last year)This will really be a great working relationship.
localman

Quinton, VA

#8 Feb 23, 2011
I guess everyone that works for Rocktenn are to whipped to respond. Nice company to be going into.
allen zhang

Nanjing, China

#9 Feb 24, 2011
i am new here,just keep a footprint
yap

Crab Orchard, KY

#10 Mar 1, 2011
o i c says i
SS RIFed employee

Arnold, MO

#11 Apr 26, 2011
smurfit-stoner wrote:
R.T. is going to run Stone so you should be ok. As a Smurfit-stone employee for 9 years I can tell you be thankful that S.S. didnt buy R.T. The mgrs at s.s. are by far the most tarded people ive ever worked for. If R.T. cleans house at all S.S. plants then this will be a great company.
SS was trashed by the senior managers. All they can see is $ for themselves. Employees were encourage to stand by the co during bankruptcy. What did they get? They got RIF'd as payback and the senior managers got huge bonuses for bring SS out of bankruptcy. Strange since it was their action that brought it to bankruptcy. Then they conspire to sell the co and leave everyone but them holding the bag.
Templerock

Pittsburg, CA

#12 Oct 21, 2012
What you can expect is long hours... No training and RUN TO DESIGN. Yes folks as soon as you can say Temple Inland... Here they are. IP fired what they could and the remaining slid down the rope like rats. RockTenn has hired these low lifes. Welcome to Temple Inland.
Retired

Porum, OK

#13 Oct 15, 2013
I worked for Smurfit Stone for along time I have NEVER seen a place ran so POORLY in my life. No Training No Leadership and a Good ole boys CLUB!!!

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