SECURITIES & EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D/A*
Under the Securities Exchange Act of 1934
(Amendment No. 2)

Smurfit Stone Container Corp
(Name of Issuer)

Common Stock, $0.01 par value per share
(Title of Class of Securities))

832727101
(CUSIP NUMBER)

John Robinson
P. Schoenfeld Asset Management LP
1350 Avenue of the Americas, 21st Floor
New York, NY 10019
Phone: (212) 649-9500

(Name, address and telephone number of person
authorized to receive notices and communications)

May 24, 2010
(Date of event which requires filing of this statement))

If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box [].

NOTE: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7 for other parties to whom copies are to be sent.

(Continued on following pages)

(Page 1 of 13 Pages)

The information required in the remainder of this cover page shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). 
CUSIP No. 832727101 13D/A Page 2 of 13 Pages
--------------------------------------------------------------------------------
 (1) NAME OF REPORTING PERSONS

 Rebound Portfolio Ltd.
--------------------------------------------------------------------------------
 (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
 (see instructions)
 (a) [ ]
 (b) [X]
--------------------------------------------------------------------------------
 (3) SEC USE ONLY

--------------------------------------------------------------------------------
 (4) SOURCE OF FUNDS (see instructions)
 WC
--------------------------------------------------------------------------------
 (5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
 REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
--------------------------------------------------------------------------------
 (6) CITIZENSHIP OR PLACE OF ORGANIZATION
 Cayman Islands
--------------------------------------------------------------------------------
NUMBER OF (7) SOLE VOTING POWER
 -0-
SHARES -----------------------------------------------------------------

BENEFICIALLY (8) SHARED VOTING POWER
 1,684,699 shares of Common Stock
OWNED BY -----------------------------------------------------------------

EACH (9) SOLE DISPOSITIVE POWER
 -0-
REPORTING -----------------------------------------------------------------

PERSON WITH (10) SHARED DISPOSITIVE POWER
 1,684,699 shares of Common Stock
--------------------------------------------------------------------------------
 (11) AGGREGATE AMOUNT BENEFICIALLY OWNED
 BY EACH REPORTING PERSON
 1,684,699 shares of Common Stock
--------------------------------------------------------------------------------
 (12) CHECK BOX IF THE AGGREGATE AMOUNT
 IN ROW (11) EXCLUDES CERTAIN SHARES (see instructions) [ ]
--------------------------------------------------------------------------------
 (13) PERCENT OF CLASS REPRESENTED
 BY AMOUNT IN ROW (11)
 0.65%
--------------------------------------------------------------------------------
 (14) TYPE OF REPORTING PERSON (see instructions)
 OO
--------------------------------------------------------------------------------


CUSIP No. 832727101 13D/A Page 3 of 13 Pages
--------------------------------------------------------------------------------
 (1) NAME OF REPORTING PERSONS

 PSAM Texas Master Fund Ltd.
--------------------------------------------------------------------------------
 (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
 (see instructions) (a) [ ]
 (b) [X]
--------------------------------------------------------------------------------
 (3) SEC USE ONLY

--------------------------------------------------------------------------------
 (4) SOURCE OF FUNDS (see instructions)
 WC
--------------------------------------------------------------------------------
 (5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
 REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
--------------------------------------------------------------------------------
 (6) CITIZENSHIP OR PLACE OF ORGANIZATION
 Cayman Islands
--------------------------------------------------------------------------------
NUMBER OF (7) SOLE VOTING POWER
 -0-
SHARES -----------------------------------------------------------------

BENEFICIALLY (8) SHARED VOTING POWER
 312,942 shares of Common Stock
OWNED BY -----------------------------------------------------------------

EACH (9) SOLE DISPOSITIVE POWER
 -0-
REPORTING -----------------------------------------------------------------

PERSON WITH (10) SHARED DISPOSITIVE POWER
 312,942 shares of Common Stock
--------------------------------------------------------------------------------
 (11) AGGREGATE AMOUNT BENEFICIALLY OWNED
 BY EACH REPORTING PERSON
 312,942 shares of Common Stock
--------------------------------------------------------------------------------
 (12) CHECK BOX IF THE AGGREGATE AMOUNT
 IN ROW (11) EXCLUDES CERTAIN SHARES (see instructions) [ ]
--------------------------------------------------------------------------------
 (13) PERCENT OF CLASS REPRESENTED
 BY AMOUNT IN ROW (11)
 0.12%
--------------------------------------------------------------------------------
 (14) TYPE OF REPORTING PERSON (see instructions)
 OO
--------------------------------------------------------------------------------


CUSIP No. 832727101 13D/A Page 4 of 13 Pages
--------------------------------------------------------------------------------
 (1) NAME OF REPORTING PERSONS

 Spartan Partners L.P.
--------------------------------------------------------------------------------
 (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
 (see instructions) (a) [ ]
 (b) [X]
--------------------------------------------------------------------------------
 (3) SEC USE ONLY

--------------------------------------------------------------------------------
 (4) SOURCE OF FUNDS (see instructions)
 WC
--------------------------------------------------------------------------------
 (5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
 REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
--------------------------------------------------------------------------------
 (6) CITIZENSHIP OR PLACE OF ORGANIZATION
 Delaware
--------------------------------------------------------------------------------
NUMBER OF (7) SOLE VOTING POWER
 -0-
SHARES -----------------------------------------------------------------

BENEFICIALLY (8) SHARED VOTING POWER
 442,589 shares of Common Stock
OWNED BY -----------------------------------------------------------------

EACH (9) SOLE DISPOSITIVE POWER
 -0-
REPORTING -----------------------------------------------------------------

PERSON WITH (10) SHARED DISPOSITIVE POWER
 442,589 shares of Common Stock
--------------------------------------------------------------------------------
 (11) AGGREGATE AMOUNT BENEFICIALLY OWNED
 BY EACH REPORTING PERSON
 442,589 shares of Common Stock
--------------------------------------------------------------------------------
 (12) CHECK BOX IF THE AGGREGATE AMOUNT
 IN ROW (11) EXCLUDES CERTAIN SHARES (see instructions) [ ]
--------------------------------------------------------------------------------
 (13) PERCENT OF CLASS REPRESENTED
 BY AMOUNT IN ROW (11)
 0.17%
--------------------------------------------------------------------------------
 (14) TYPE OF REPORTING PERSON (see instructions)
 PN
--------------------------------------------------------------------------------


CUSIP No. 832727101 13D/A Page 5 of 13 Pages
--------------------------------------------------------------------------------
 (1) NAME OF REPORTING PERSONS

 Synapse I LLC
--------------------------------------------------------------------------------
 (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
 (see instructions) (a) [ ]
 (b) [X]
--------------------------------------------------------------------------------
 (3) SEC USE ONLY

--------------------------------------------------------------------------------
 (4) SOURCE OF FUNDS (see instructions)
 N/A
--------------------------------------------------------------------------------
 (5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
 REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
--------------------------------------------------------------------------------
 (6) CITIZENSHIP OR PLACE OF ORGANIZATION
 New York
--------------------------------------------------------------------------------
NUMBER OF (7) SOLE VOTING POWER
 -0-
SHARES -----------------------------------------------------------------

BENEFICIALLY (8) SHARED VOTING POWER
 442,589 shares of Common Stock
OWNED BY -----------------------------------------------------------------

EACH (9) SOLE DISPOSITIVE POWER
 -0-
REPORTING -----------------------------------------------------------------

PERSON WITH (10) SHARED DISPOSITIVE POWER
 442,589 shares of Common Stock
--------------------------------------------------------------------------------
 (11) AGGREGATE AMOUNT BENEFICIALLY OWNED
 BY EACH REPORTING PERSON
 442,589 shares of Common Stock
-----------------------------------------------------------------------------
 (12) CHECK BOX IF THE AGGREGATE AMOUNT
 IN ROW (11) EXCLUDES CERTAIN SHARES (see instructions) [ ]
--------------------------------------------------------------------------------
 (13) PERCENT OF CLASS REPRESENTED
 BY AMOUNT IN ROW (11)
 0.17%
--------------------------------------------------------------------------------
 (14) TYPE OF REPORTING PERSON (see instructions)
 OO
--------------------------------------------------------------------------------


CUSIP No. 832727101 13D/A Page 6 of 13 Pages
--------------------------------------------------------------------------------
 (1) NAME OF REPORTING PERSONS

 PSAM WorldArb Master Fund Ltd.
--------------------------------------------------------------------------------
 (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
 (see instructions) (a) [ ]
 (b) [X]
--------------------------------------------------------------------------------
 (3) SEC USE ONLY

--------------------------------------------------------------------------------
 (4) SOURCE OF FUNDS (see instructions)
 WC
--------------------------------------------------------------------------------
 (5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
 REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
--------------------------------------------------------------------------------
 (6) CITIZENSHIP OR PLACE OF ORGANIZATION
 Cayman Islands
--------------------------------------------------------------------------------
NUMBER OF (7) SOLE VOTING POWER
 -0-
SHARES -----------------------------------------------------------------

BENEFICIALLY (8) SHARED VOTING POWER
 4,640,735 shares of Common Stock
OWNED BY -----------------------------------------------------------------

EACH (9) SOLE DISPOSITIVE POWER
 -0-
REPORTING -----------------------------------------------------------------

PERSON WITH (10) SHARED DISPOSITIVE POWER
 4,640,735 shares of Common Stock
--------------------------------------------------------------------------------
 (11) AGGREGATE AMOUNT BENEFICIALLY OWNED
 BY EACH REPORTING PERSON
 4,640,735 shares of Common Stock
-----------------------------------------------------------------------------
 (12) CHECK BOX IF THE AGGREGATE AMOUNT
 IN ROW (11) EXCLUDES CERTAIN SHARES (see instructions) [ ]
--------------------------------------------------------------------------------
 (13) PERCENT OF CLASS REPRESENTED
 BY AMOUNT IN ROW (11)
 1.80%
--------------------------------------------------------------------------------
 (14) TYPE OF REPORTING PERSON (see instructions)
 OO
--------------------------------------------------------------------------------


CUSIP No. 832727101 13D/A Page 7 of 13 Pages
--------------------------------------------------------------------------------
 (1) NAME OF REPORTING PERSONS

 P. Schoenfeld Asset Management GP LLC
--------------------------------------------------------------------------------
 (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
 (see instructions) (a) [ ]
 (b) [X]
--------------------------------------------------------------------------------
 (3) SEC USE ONLY

--------------------------------------------------------------------------------
 (4) SOURCE OF FUNDS (see instructions)
 N/A
--------------------------------------------------------------------------------
 (5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
 REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
--------------------------------------------------------------------------------
 (6) CITIZENSHIP OR PLACE OF ORGANIZATION
 New York
--------------------------------------------------------------------------------
NUMBER OF (7) SOLE VOTING POWER
 -0-
SHARES -----------------------------------------------------------------

BENEFICIALLY (8) SHARED VOTING POWER
 8,995,000 shares of Common Stock
OWNED BY -----------------------------------------------------------------

EACH (9) SOLE DISPOSITIVE POWER
 -0-
REPORTING -----------------------------------------------------------------

PERSON WITH (10) SHARED DISPOSITIVE POWER
 8,995,000 shares of Common Stock
--------------------------------------------------------------------------------
 (11) AGGREGATE AMOUNT BENEFICIALLY OWNED
 BY EACH REPORTING PERSON
 8,995,000 shares of Common Stock
--------------------------------------------------------------------------------
 (12) CHECK BOX IF THE AGGREGATE AMOUNT
 IN ROW (11) EXCLUDES CERTAIN SHARES (see instructions) [ ]
--------------------------------------------------------------------------------
 (13) PERCENT OF CLASS REPRESENTED
 BY AMOUNT IN ROW (11)
 3.50%
--------------------------------------------------------------------------------
 (14) TYPE OF REPORTING PERSON (see instructions)
 OO
--------------------------------------------------------------------------------


CUSIP No. 832727101 13D/A Page 8 of 13 Pages
--------------------------------------------------------------------------------
 (1) NAME OF REPORTING PERSONS

 P. Schoenfeld Asset Management LP
--------------------------------------------------------------------------------
 (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
 (see instructions) (a) [ ]
 (b) [X]
--------------------------------------------------------------------------------
 (3) SEC USE ONLY

--------------------------------------------------------------------------------
 (4) SOURCE OF FUNDS (see instructions)
 N/A
--------------------------------------------------------------------------------
 (5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
 REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
--------------------------------------------------------------------------------
 (6) CITIZENSHIP OR PLACE OF ORGANIZATION
 New York
--------------------------------------------------------------------------------
NUMBER OF (7) SOLE VOTING POWER
 -0-
SHARES -----------------------------------------------------------------

BENEFICIALLY (8) SHARED VOTING POWER
 8,995,000 shares of Common Stock
OWNED BY -----------------------------------------------------------------

EACH (9) SOLE DISPOSITIVE POWER
 -0-
REPORTING -----------------------------------------------------------------

PERSON WITH (10) SHARED DISPOSITIVE POWER
 8,995,000 shares of Common Stock
--------------------------------------------------------------------------------
 (11) AGGREGATE AMOUNT BENEFICIALLY OWNED
 BY EACH REPORTING PERSON
 8,995,000 shares of Common Stock
--------------------------------------------------------------------------------
 (12) CHECK BOX IF THE AGGREGATE AMOUNT
 IN ROW (11) EXCLUDES CERTAIN SHARES (see instructions) [ ]
--------------------------------------------------------------------------------
 (13) PERCENT OF CLASS REPRESENTED
 BY AMOUNT IN ROW (11)
 3.50%
--------------------------------------------------------------------------------
 (14) TYPE OF REPORTING PERSON (see instructions)
 IA
--------------------------------------------------------------------------------


CUSIP No. 832727101 13D/A Page 9 of 13 Pages
--------------------------------------------------------------------------------

 (1) NAME OF REPORTING PERSONS

 Peter M. Schoenfeld
--------------------------------------------------------------------------------
 (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
 (see instructions) (a) [ ]
 (b) [X]
--------------------------------------------------------------------------------
 (3) SEC USE ONLY

--------------------------------------------------------------------------------
 (4) SOURCE OF FUNDS (see instructions)
 N/A
--------------------------------------------------------------------------------
 (5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
 REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
--------------------------------------------------------------------------------
 (6) CITIZENSHIP OR PLACE OF ORGANIZATION
 United States of America
--------------------------------------------------------------------------------
NUMBER OF (7) SOLE VOTING POWER
 -0-
SHARES -----------------------------------------------------------------

BENEFICIALLY (8) SHARED VOTING POWER
 8,995,000 shares of Common Stock
OWNED BY -----------------------------------------------------------------

EACH (9) SOLE DISPOSITIVE POWER
 -0-
REPORTING -----------------------------------------------------------------

PERSON WITH (10) SHARED DISPOSITIVE POWER
 8,995,000 shares of Common Stock
--------------------------------------------------------------------------------
 (11) AGGREGATE AMOUNT BENEFICIALLY OWNED
 BY EACH REPORTING PERSON
 8,995,000 shares of Common Stock
-----------------------------------------------------------------------------
 (12) CHECK BOX IF THE AGGREGATE AMOUNT
 IN ROW (11) EXCLUDES CERTAIN SHARES (see instructions) [ ]
--------------------------------------------------------------------------------
 (13) PERCENT OF CLASS REPRESENTED
 BY AMOUNT IN ROW (11)
 3.50%
--------------------------------------------------------------------------------
 (14) TYPE OF REPORTING PERSON (see instructions)
 IN
--------------------------------------------------------------------------------


CUSIP No. 832727101 13D Page 10 of 13 Pages

Item 1. Security and Issuer.

 This Amendment No. 1 (this "Amendment") amends the statement on Schedule
13D filed on February 1, 2010 (the "Original Schedule 13D", and the Original
Schedule 13D as amended hereby and by Amendment No. 1 filed on February 18,
2010, the "Schedule 13D") with respect to shares of common stock par value $0.01
per share (the "Common Stock") of Smurfit-Stone Container Corporation, a
Delaware corporation (the "Issuer"). Capitalized terms used herein and not
otherwise defined in this Amendment have the meanings set forth in the Schedule
13D. This Amendment amends Items 4 and 5 as set forth below. This is the final
amendment to the Schedule 13D and constitutes an "exit filing" for the Reporting
Persons.

Item 4. Purpose of the Transaction.

 Item 4 of the Schedule 13D is hereby amended and supplemented by the
addition of the following:

 On May 24, 2010 the Reporting Persons reached a resolution with the Issuer
with respect to the Reporting Persons' objections to the Plan. The resolution
provides that 2.25% of the new common stock of the reorganized Issuer that the
Plan previously provided for distribution to the general unsecured creditors of
the Issuer (the "New Common Stock Pool") will be distributed pro rata to the
existing holders of the Issuer's 7% Series A Cumulative Exchangeable Redeemable
Convertible Preferred Stock and 2.25% of the New Common Stock Pool will be
distributed pro rata to the existing holders of the Common Stock. The resolution
also provides that the Issuer will pay certain of the fees and expenses of the
professionals engaged by the Reporting Persons in connection with their
objections to the Plan.

 As a result of reaching this resolution to the Reporting Persons'
objections to the Plan, there is no longer any argument that the Reporting
Persons could be deemed to be a group with the Other Holders. The Reporting
Persons expressly disclaim membership in a group with the Other Holders or any
other person.

Item 5. Interest in Securities of the Issuer.

Item 5 (a), (b), (c) and (e) are hereby amended and restated as follows:

 A. Rebound

 (a),(b) The information set forth in Rows 7 through 13 of
 the cover page hereto for Rebound is incorporated
 herein by reference. The percentage amount set forth
 in Row 13 for all cover pages filed herewith is
 calculated based on 257,261,844 shares of Common
 Stock outstanding as set forth in the Quarterly
 Report on Form 10-Q for the quarter ended March 31,
 2010 filed by the Issuer on May 5, 2010.

 (c) Rebound has not entered into transactions in the Common Stock
 within the last sixty days.

 (e) May 24, 2010.

 B. Texas


CUSIP No. 832727101 13D Page 11 of 13 Pages


 (a),(b) The information set forth in Rows 7 through 13 of
 the cover page hereto for Texas is incorporated herein
 by reference.

 (c) Texas has not entered into transactions in the Common
 Stock within the last sixty days.

 (e) May 24, 2010.

 C. Spartan

 (a),(b) The information set forth in Rows 7 through 13 of
 the cover page hereto for Spartan is incorporated herein
 by reference.

 (c) Spartan has not entered into transactions in the Common
 Stock within the last sixty days.

 (e) May 24, 2010.

 D. Synapse I

 (a),(b) The information set forth in Rows 7 through 13 of
 the cover page hereto for Synapse I is incorporated
 herein by reference.

 (c) Synapse I did not effect any transactions in the Common Stock
within the last sixty days.

 (e) May 24, 2010.

 E. Master Fund

 (a),(b) The information set forth in Rows 7 through 13 of
 the cover page hereto for the Master Fund is
 incorporated herein by reference.

 (c) The Master Fund has not entered into transactions in
 the Common Stock within the last sixty days.

 (e) May 24, 2010.


CUSIP No. 832727101 13D Page 12 of 13 Pages


 F. PSAM GP

 (a),(b) The information set forth in Rows 7 through 13 of
 the cover page hereto for PSAM GP is incorporated
 herein by reference.

 (c) PSAM GP did not effect any transactions in the Common Stock
 within the last sixty days.

 (e) May 24, 2010.


 G. PSAM

 (a),(b) The information set forth in Rows 7 through 13 of
 the cover page hereto for PSAM is incorporated
 herein by reference.

 (c) PSAM did not effect any transactions in the Common
 Stock within the last sixty days.

 (e) May 24, 2010.

 H. Mr. Schoenfeld

 (a),(b) The information set forth in Rows 7 through 13 of
 the cover page hereto for Mr. Schoenfeld is
 incorporated herein by reference.


 (c) Mr. Schoenfeld did not effect any transaction in the
 Common Stock within the last sixty days.

 (e) May 24, 2010.

The last paragraph of Item 5 is hereby deleted in its entirety.


CUSIP No. 832727101 13D Page 13 of 13 Pages


 SIGNATURES

After reasonable inquiry and to the best of our knowledge and belief, the
undersigned certify that the information set forth in this statement is true,
complete and correct.


DATED: May 26, 2010


 /s/ Peter M. Schoenfeld
 -------------------------------------

 Peter M. Schoenfeld, (i) individually; (ii) as
 managing member of (a) P. Schoenfeld Asset
 Management GP LLC, for itself and as the general
 partner of P. Schoenfeld Asset Management LP; and
 (b) Synapse I, LLC for itself and as the general
 partner of Spartan Partners, LP; and (iii) as
 director of PSAM WorldArb Master Fund Ltd.,
 Rebound Portfolio Ltd., and PSAM Texas Master
 Fund Ltd.

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