Filed by International Paper Company
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
The following is the text of International Paper Company's press release
issued May 18, 2000.
News Release
May 18, 2000
DOJ Concludes Review of International Paper's Acquisition of Champion
International
PURCHASE, NY -- The U.S. Department of Justice has completed its antitrust
review of the proposed acquisition of Champion International by International
Paper, clearing the way for the companies to proceed with the deal announced
last week.
"We're pleased to have received the required government clearance in the U.S.,"
said International Paper Chairman and Chief Executive Officer John Dillon. "We
will launch our exchange offer this week and hope to close the transaction next
month."
IP received notification on Wednesday that the Department of Justice had
terminated the antitrust review required by the Hart-Scott-Rodino Act. Reviews
are still pending in Canada and Brazil, and other non-U.S. filings are expected
to be made shortly, but they are not expected to delay completion of the
transaction.
International Paper reached an agreement last week (Friday, May 12) to acquire
Champion in a cash and stock deal worth nearly $7.3 billion excluding net debt.
International Paper (www.internationalpaper.com) is the world's largest paper
and forest products company. Businesses include printing papers, packaging,
building materials, chemical products and distribution. As the largest private
landowner in the U.S., the company manages its forest under the principles of
the Sustainable Forestry Initiative (SFIsm) program, a system that ensures the
perpetual growing and harvesting of trees while protecting wildlife, plants,
soil, air and water quality. Headquartered in the United States at Purchase,
N.Y., International Paper has operations in nearly 50 countries, employs nearly
100,000 people and exports its products to more than 130 nations.
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SOURCE International Paper
Media Contact: Jack Cox, 914-397-1952
Analyst Contacts: Carol Tutundgy, 914-397-1632, or
Rochelle Weitzner, 914-397-1623
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