Jefferson Smurfit shareholders have until August 6 to decide whether to accept the management backed bid for the group made by US private equity firm Madison Dearborn Partners.
Shareholders can expect to receive the formal offer document early next week after it was posted late on Friday afternoon.
The company will hold an extraordinary general meeting on July 29 where shareholders will vote on the spin-off of the company's stake in Smurfit Stone Container Corporate (SSCC), and the management's participation in the bid.
On June 17 Madison made a bid worth €3.26 per share, comprising €2.15 euro for each Smurfit share and the offer of one share in SSCC for every 16 Smurfit shares held.
The bid value has since slipped back to around €3.14 per share due to the weaker dollar and falling SSCC share price.
Another US group, Texas Pacific, has also spoken to Smurfit management about the possibility of making a bid, and it is speculated that the posting of today's offer document will force them to decide whether to make a formal offer.
Anglo American, which owns packaging company Mondi, has refused to comment on rumours that it is also interested in the group.
