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Smurfit-Stone investor funds oppose Rock-Tenn deal

Reuters – A group of hedge funds that owns a combined 9 percent stake in Smurfit-Stone Container Corp said it would vote against Rock-Tenn Co’s $3.5 billion deal to buy the packaging and paper company.

Third Point, Royal Capital Management and Monarch Alternative Capital said in a letter to Smurfit-Stone’s board on Wednesday that the company could go it alone and shareholders would be better off.

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