UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
FORM 4
[x] Check this box if no longer OMB APROVAL
subject to Section 16. Form 4 or Form OMB NUMBER: 3235-0287
5 obligations may continue. Expires: September 30, 1998
See Instruction 1(b). Estimated average burden
hours per response........0.5
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section
17(a) of the Public Utility Holding Company Act of 1935
or Section 30(f) of the Investment Company Act of 1940
(Print or Type Responses)
1. Name and Address of Reporting Person*
The Morgan Stanley
Leveraged Equity Fund II, L.P.
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(Last) (First) (Middle)
1221 Avenue of the Americas
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(Street)
New York NY 10020
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(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
Smurfit-Stone Container Corporation (SSCC)
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3. I.R.S. Identification Number of Reporting Person, if an entity (Voluntary)
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4. Statement for Month/Year
November, 1998
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5. If Amendment, Date of Original (Month/Day/Year)
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6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
Director 10% Owner
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Officer (give title below) x Other (specify below)
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Former 10% Owner (1)
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7. Individual or Joint/Group Filing (Check Applicable Line)
x Form filed by One Reporting Person
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Form filed by More than One Reporting Person
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Table I-Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
<TABLE>
<CAPTION>
1. Title of Security 2. Trans- 3. Trans- 4. Securities Acquired 5. Amount of Securities 6. Ownership 7. Nature of
(Instr. 3) action action (A) or Disposed of Beneficially Owned Form: Direct Indirect
Date Code (D) (Instr. 3, 4 at End of Month (D) or In- Beneficial
(Instr.8) and 5) (Instr. 3 and 4) direct (I) Ownership
(Month/ (Instr. 4) (Instr. 4)
Day/ (A) or
Year) Code V Amount (D) Price
- ------------------------- --------- ---- --- ------- --- --------- -------------------- -------------- -------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Common Stock 11/18/98 S (2) 15,340,643 D $25.00 15,187,237 D
</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction
4(b)(v).
(Over)
SEC 1474 (7-96)
Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
<TABLE>
<CAPTION>
1. Title of 2. Conversion or 3. Transaction Date 4. Transaction 5. Number of 6. Date Exercisable and
Derivative Exercise Price (Month/Day/Year) Code Derivative Expiration Date
Security of Derivative (Instr. 8) Securities (Month/Day/Year)
(Instr. 3) Security Acquired (A)
or Disposed of
(D) (Instr. 3,
4 and 5)
Date Expiration
Code V (A) (D) Exercisable Date
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<S> <C> <C> <C> <C> <C> <C> <C> <C>
1. Title of 7. Title and Amount of 8. Price of 9. Number of 10. Ownership 11. Nature of
Derivative Underlying Securities Derivative derivative Form of Indirect
Security (Instr. 3 and 4) Security Securities Derivative Beneficial
(Instr. 3) (Instr. 5) Beneficially Security: Ownership
Amount Owned at End Direct (D) (Instr. 4)
or of Month or Indirect
Number (Instr. 4) (I)
of (Instr. 4)
Title Shares
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<S> <C> <C> <C> <C> <C> <C>
</TABLE>
Explanation of Responses:
(1) As a result of the merger of Stone Container Corporation with a
wholly-owned subsidiary of the Issuer on November 18, 1998, the Reporting
Person is no longer a 10% Owner.
(2) On November 18, 1998, pursuant to a Stock Purchase Agreement, dated as
of May 10, 1998, among Smurfit International B.V., Jefferson Smurfit Group
plc, Morgan Stanley Leveraged Equity Fund II, Inc., certain other
stockholders of the Issuer party thereto and the Issuer, the Reporting
Person sold to SIBV the number of shares of common stock, par value $0.01
per share, of the Issuer ("Common Stock") shown on Table I for an amount
per share equal to $25.00 plus interest from May 10, 1998.
By: Morgan Stanley Leveraged
Equity Fund II, Inc.
/s/ Peter Vogelsang December 10, 1998
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**Signature of Reporting Person Date
**Intentional misstatements or omissions of facts constitute Federal Criminal
Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space is insufficient, See Instruction 6 for procedure.
Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a currently
valid OMB Number.
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SEC 1474 (7-96)