"Earlier today we shared our revised proposal to acquire Smurfit Kappa. Let me just say that we’ve followed and admired Smurfit Kappa for many years as they’ve grown from a family business to a public company and a leader in corrugated packaging. Our companies share many core values and beliefs, including our views on safety, ethics, environmental stewardship and shareholder value.
We are confident that this combination is highly complementary and has compelling strategic and financial rationale. This combination will generate synergies of at least $450 million dollars and create additional value for the combined group’s shareholders as we build the premier global corrugated packaging company."