Filed by Champion International Corporation
Pursuant to Rule 425 under the Securities Act of 1933
and deemed filed pursuant to Rule 14a-12
of the Securities Exchange Act of 1934
Subject Company: Champion International Corporation
Commission File No.: 001-03053
SPECIAL SHAREHOLDER MEETINGS OF CHAMPION INTERNATIONAL AND UPM-KYMMENE TO
BE HELD ON JUNE 14, 2000 TO VOTE ON PROPOSED MERGER
Stamford, CT, April 14, 2000 -- Champion International Corporation
(NYSE:CHA) and UPM-Kymmene Corporation (Helsinki Stock Exchange:UPM1V;
NYSE:UPM) announced today that they will hold special shareholder meetings
on June 14, 2000 to consider and vote upon the proposed merger between the
two companies. Champion shareholders of record on April 25, 2000 will have
the opportunity to vote at the special meeting of Champion shareholders.
Champion anticipates mailing a joint proxy statement/prospectus describing
the terms of the proposed merger to their shareholders at the beginning of
May.
Upon approval by the shareholders of both Champion and UPM-Kymmene, and
assuming all remaining required regulatory approvals are received, it is
anticipated that the closing of the merger will occur shortly following the
receipt of shareholder approval. Under the terms of the merger agreement,
Champion shareholders will receive 1.99 UPM-Kymmene American Depositary
Shares or, at their election, 1.99 UPM-Kymmene ordinary shares for each
share of Champion common stock.
Champion International Corporation is an integrated forest products company
with significant operations in the United States, Canada, and Brazil.
Champion is a major producer and distributor of coated and uncoated papers.
The company's other products include market pulp, lumber and plywood, and
selected paper for packaging. Champion has the responsibility for the
sustainable management of approximately eleven million acres of forestlands
supporting its manufacturing facilities.
* * *
Investors and security holders are advised to read the joint proxy
statement/prospectus regarding the proposed merger referred to above, when
it becomes available, because it will contain important information.
Investors and security holders may obtain a free copy of the joint proxy
statement/prospectus (when available) and other related documents filed by
Champion and UPM-Kymmene at the Securities and Exchange Commission's
website at www.sec.gov. The joint proxy statement/prospectus and the other
documents may also be obtained from Champion by contacting Champion
International, Attn: Thomas L. Hart, One Champion Plaza, Stamford,
Connecticut 06921 and/or UPM-Kymmene by contacting UPM-Kymmene, Attn:
Olavi Kauppila, Etelaesplanadi 2, FIN-00101 Helsinki, Finland.
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For more information contact:
Media: Gael Doar -- 203 358-7900
Investor Relations: Tom Hart -- 203 358-7291
Web site: http://www.championpaper.com
