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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
RULE 13d-2(a)
(Amendment No.__________)*
Plum Creek Timber Company, Inc.
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(Name of Issuer)
Common Stock, par value $0.01 per share and
Special Voting Common Stock, par value $0.01 per share
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(Title of Class of Securities)
729251108
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(CUSIP Number)
James F. Kelley, Esq.
Senior Vice President and General Counsel
Georgia-Pacific Corporation
133 Peachtree, N.E.
Atlanta, GA 30303
(404) 652-4000
with Copies to:
Mario A. Ponce, Esq.
Simpson Thacher & Bartlett
425 Lexington Avenue
New York, New York 10017
(212) 455-2000
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(Name, Address and Telephone Number of Person Authorized to Receive
Notices and Communications)
July 18, 2000
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(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 that 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
[ ].
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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.
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose 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).
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CUSIP No. 729251108 13D
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1. Name of Reporting Person: Georgia-Pacific Corporation
I.R.S. Identification Number of Above Person (Entities Only):
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [ ]
(b) [ ]
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3. SEC Use Only
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4. Source of Funds (See Instructions)
OO
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5. Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e)
[ ]
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6. Citizenship or Place of Organization
Georgia
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7. Sole Voting Power
Number of Shares -0-
Beneficially Owned by Each
Reporting Person With: --------- -----------------------------------------------------------------
8. Shared Voting Power
16,498,709 common stock
634,566 special voting common stock
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9. Sole Dispositive Power
-0-
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10. Shared Dispositive Power
-0-
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11. Aggregate Amount Beneficially Owned by Each Reporting Person
16,498,709 common stock
634,566 special voting common stock
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12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)
[ ]
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13. Percent of Class Represented by Amount in Row (11)
24.06% common stock; 100% special voting common stock
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14. Type of Reporting Person (See Instructions)
CO
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STATEMENT PURSUANT TO RULE 13d-1
OF THE
GENERAL RULES AND REGULATIONS
UNDER THE
SECURITIES EXCHANGE ACT OF 1934, AS AMENDED
Item 1. Security and Issuer.
This statement on Schedule 13D relates to the common stock, par value
$.01 per share (the "Plum Creek Common Stock") and the special voting common
stock, par value $.01 per share (the "Plum Creek Special Voting Common Stock"
and together with the Plum Creek Common Stock, the "Plum Creek Shares"), of Plum
Creek Timber Company, Inc., a Delaware corporation ("Plum Creek"). Plum Creek's
principal executive offices are at 999 Third Avenue, Suite 2300, Seattle,
Washington 98104.
Item 2. Identity and Background.
(a) The name of the person filing this statement is Georgia-Pacific
Corporation, a Georgia corporation ("Georgia-Pacific").
(b) The address of the principal business and principal office of
Georgia-Pacific is 133 Peachtree Street, N.E., Atlanta, Georgia 30303.
(c) Georgia-Pacific consists of two separate operating groups, the
Georgia-Pacific Group and The Timber Company. The performance of these distinct
businesses is reflected separately by two classes of common stock. The
Georgia-Pacific Group consists of all of Georgia-Pacific's manufacturing mills
and plants, its building products distribution business and its paper
distribution business. The facilities manufacture and sell a wide variety of
pulp and paper products (including pulp, communication papers, containerboard,
packaging and tissue) and manufactured building products (including plywood,
oriented strand board and industrial panels, lumber, gypsum products, chemicals
and other products). The Timber Company consists of approximately 4.7 million
acres of timberlands owned or leased by certain wholly owned subsidiaries of
Georgia-Pacific, together with related facilities and equipment. In 1999, these
timberlands supplied approximately 19% of the overall timber requirements of
Georgia-Pacific's manufacturing facilities.
(d)-(e) During the last five years, neither Georgia-Pacific nor, to
the best knowledge of Georgia-Pacific, any person named in Schedule A, has been
(i) convicted in a criminal proceeding (excluding traffic violations or similar
misdemeanors) or (ii) a party to a civil proceeding of a judicial or
administrative body of competent jurisdiction and as a result of such proceeding
has been or is subject to a judgment, decree or final order enjoining future
violations of, or prohibiting or mandating activities subject to, Federal or
state securities laws or finding any violations of such laws.
(f) Not applicable.
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Item 3. Source and Amount of Funds or Other Consideration.
Pursuant to an Agreement and Plan of Merger (the "Merger Agreement")
dated as of July 18, 2000, by and among Plum Creek, Georgia-Pacific and North
American Timber Corp., NPI Timber, Inc., GNN Timber, Inc., GPW Timber, Inc.,
LRFP Timber, Inc., and NPC Timber, Inc., each a wholly owned subsidiary of
Georgia-Pacific (each a "Spinco" and together, "The Timber Company"), (i)
immediately prior to the merger referred to in clause (ii), Georgia-Pacific will
redeem all of the outstanding shares of Georgia-Pacific Corporation-Timber Group
Common Stock, par value $0.80 per share ("Timber Stock") in exchange for all of
the outstanding shares of each of the Spincos by delivery of one unit (a
"Unit"), consisting of one share of common stock of each Spinco, for each share
of Timber Stock then outstanding and (ii) immediately following such redemption,
each of the Spincos will merge with and into Plum Creek, with Plum Creek as the
surviving corporation (the "Merger"). In connection with the Merger, each Unit
will be exchanged for 1.37 shares of Plum Creek Common Stock.
Concurrently with the execution and delivery of the Merger Agreement,
PC Advisory Partners I, L.P. and PC Intermediate Holdings, L.P. (together, the
"Securityholders") agreed, pursuant to a Voting Agreement and Consent dated as
of July 18, 2000, by and among Plum Creek, Georgia-Pacific and the
Securityholders (the "Voting Agreement"), to vote (as more fully described in
Item 6) to approve the Merger, the Merger Agreement and the transactions
contemplated therein, and have granted proxies to certain officers of
Georgia-Pacific to vote their Plum Creek Shares in such a manner.
The descriptions of the Merger Agreement and the Voting Agreement
contained in this Schedule 13D are qualified in their entirety by reference to
such agreements, copies of which appear as Exhibits 1 and 2 hereto,
respectively.
Item 4. Purpose of Transaction.
(a) -(b) The purpose of the transaction is to facilitate the approval
of the Merger by the stockholders of Plum Creek.
(c) Not applicable.
(d) Pursuant to the Merger Agreement, at the effective time of the
Merger, Plum Creek's board of directors will include up to three directors
designated by Georgia-Pacific. As soon as practicable after such effective time,
the number of directors of Plum Creek will be increased from eight to eleven.
(e) Pursuant to the Voting Agreement, each Securityholder has agreed
to convert each share of Plum Creek Special Voting Common Stock owned by such
Securityholder immediately prior to the Merger into one share of Plum Creek
Common Stock.
(f)-(i) Not applicable.
(j) Other than as described above, Georgia-Pacific currently has no
plans or proposals which relate to, or may result in, any of the matters listed
in Items 4(a)-(j) of Schedule 13D (although Georgia-Pacific reserves the right
to develop such plans).
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Item 5. Interest in Securities of the Issuer.
(a)-(b) As a result of the Voting Agreement, Georgia-Pacific may be
deemed to be the beneficial owner of 16,498,709 shares of Plum Creek Common
Stock and 634,566 shares of Plum Creek Special Voting Common Stock. Based upon
information contained in the most recently available filing by Plum Creek with
the Securities and Exchange Commission (the "SEC"), such shares constitute
approximately 24.06% of the issued and outstanding shares of Plum Creek Common
Stock and 100% of the issued and outstanding shares of Plum Creek Special Voting
Common Stock.
To the knowledge of Georgia-Pacific, no shares of Plum Creek Common
Stock or shares of Plum Creek Special Voting Common Stock are beneficially owned
by any of the persons named in Schedule A.
(c) Neither Georgia-Pacific, nor, to the knowledge of Georgia-Pacific,
any person named in Schedule A, has effected any transaction in the Plum Creek
Common Stock or the Plum Creek Special Voting Common Stock during the past 60
days.
(d) All pecuniary interests in the Plum Creek Shares referred to in
Item 5(a) are held by the Securityholders.
(e) Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships With Respect
to Securities of the Issuer.
Pursuant to the Voting Agreement, and subject to the terms and
conditions contained therein, each Securityholder will vote all Plum Creek
Shares directly or indirectly beneficially owned by such Securityholder (i) to
approve the Merger Agreement, the Merger and the transactions contemplated
thereby, including, without limitation, the amendments to Plum Creek's
Certificate of Incorporation as contemplated by the Merger Agreement and the
taking of any actions necessary or appropriate in furtherance thereof, (ii)
against any proposal or offer to acquire all or a substantial part of the
business or properties of Plum Creek or capital stock of Plum Creek or any
proposal or offer that, if consummated, would cause the transactions
contemplated by the Merger Agreement to fail to qualify as a series of tax-free
transactions, unless they shall have received the prior written consent of Plum
Creek and Georgia-Pacific, and (iii) to approve any proposed amendments to Plum
Creek's Certificate of Incorporation to eliminate Plum Creek's staggered board
of directors.
In addition, pursuant to the Voting Agreement, and subject to the
terms and conditions contained therein, each Securityholder (i) agrees to
convert each share of Plum Creek Special Voting Common Stock held by such
Securityholder into one share of Plum Creek Common Stock immediately prior to
the Merger, (ii) permanently and irrevocably waives, simultaneously with the
consummation of the Merger, any and all rights to designate more than three
nominees to the board of directors of Plum Creek and (iii) acknowledges that the
waiver of rights referred to in clause (ii) will permanently and irrevocably
extinguish any rights of the Securityholders to designate a majority of the
board of directors of Plum Creek (unless three directors will constitute a
majority of the board of directors of Plum Creek).
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Item 7. Material to be Filed as Exhibits.
1. Agreement and Plan of Merger, dated as of July 18, 2000, by and among
Plum Creek Timber Company, Inc., a Delaware corporation,
Georgia-Pacific Corporation, a Georgia corporation, and North American
Timber Corp., NPI Timber, Inc., GNN Timber, Inc., GPW Timber, Inc.,
LRFP Timber, Inc., and NPC Timber, Inc., each a Delaware corporation
and a wholly owned subsidiary of Georgia-Pacific Corporation
(incorporated by reference to Exhibit 2.1 to Georgia-Pacific's Form
8-K, SEC File No. 1-3505, as filed with the SEC on July 20, 2000).
2. Voting Agreement and Consent dated as of July 18, 2000, by and among
Plum Creek Timber Company, Inc., a Delaware corporation,
Georgia-Pacific Corporation, a Georgia corporation, PC Advisory
Partners I, L.P. and PC Intermediate Holdings, L.P. (incorporated by
reference to Exhibit 9.1 to Georgia-Pacific's Form 8-K, SEC File No.
1-3505, as filed with the SEC on July 20, 2000).
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SIGNATURE
After reasonable inquiry and to the best of his or its knowledge and
belief, the undersigned certifies that the information set forth in this
statement is true, complete and correct.
Date: July 26, 2000
GEORGIA-PACIFIC CORPORATION
By: /s/ Kenneth F. Khoury
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Name: Kenneth F. Khoury
Title: Vice President, Deputy General Counsel
and Secretary
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SCHEDULE A
NAME, PRINCIPAL OCCUPATION AND BUSINESS ADDRESS OF EACH DIRECTOR AND EXECUTIVE
OFFICER OF GEORGIA-PACIFIC CORPORATION
The name, business address and title with Georgia-Pacific, and present
principal occupation or employment of each of the directors and executive
officers of Georgia-Pacific are set forth below. Except as indicated, each
person's business address is c/o Georgia-Pacific Corporation, Post Office Box
105605, Atlanta, GA 30348.
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Name and Title Present Principal
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Occupation Including
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Name of Employer
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Alston D. Correll Chairman, Chief Executive Officer and President, Georgia-Pacific Corporation
Chairman, Chief Executive Officer and
President
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James S. Balloun Chairman, Chief Executive Officer and President, National Service
Director Industries, Inc.
1420 Peachtree St., N.E.
Atlanta, GA 30309
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Robert Carswell Of Counsel, Shearman & Sterling
Director 599 Lexington Avenue
New York, NY 10022
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Jane Evans President and Chief Executive Officer
Director GAMUT Interactive, Inc.
7373 N. Scottsdale Road - Suite C-226
Scottsdale, AZ 85253
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Donald V. Fites Retired Chairman and Chief Executive Officer, Caterpillar Inc.
Director 100 NE Adams Street
Peoria, IL 61629-9210
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Harvey C. Fruehauf, Jr. President, HCF Enterprises, Inc.
Director 100 Maple Park Boulevard - Suite 106
St. Clair Shores, MI 48081
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Richard V. Giordano Chairman, BG plc
Director c/o Shearman & Sterling
599 Lexington Avenue - Suite 1618
New York, NY 10022
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David R. Goode Chairman, President and Chief Executive Officer, Norfolk Southern
Director Corporation
Three Commercial Place
Norfolk, VA 23510-2191
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M. Douglas Ivester Former Chairman of the Board and Chief Executive Officer, The Coca-Cola
Director Company (retired)
One Buckhead Plaza
3060 Peachtree Road, N.W. - Suite 895
Atlanta, GA 30305
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James P. Kelly Chairman and Chief Executive Officer, United Parcel Service
Director 55 Glenlake Parkway, N.E.
Atlanta, GA 30328
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Louis W. Sullivan, M.D. President, Morehouse School of Medicine
Director 720 Westview Drive, S.W.
Atlanta, GA 30310-1495
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James B. Williams Chairman of the Executive Committee, SunTrust Banks, Inc.
Director P.O. Box 4418
Mail Code #645
Atlanta, GA 30302-4418
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EXECUTIVE OFFICERS
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Alston D. Correll Chairman, Chief Executive Officer and President
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Donald L. Glass Executive Vice President - Timber, President and Chief Exeutive Officer,
The Timber Company
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Danny W. Huff Executive Vice President -Finance and Chief Financial Officer
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Clint M. Kennedy Executive Vice President - Pulp and Paperboard
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Ronald L. Paul Executive Vice President - Wood Products and Distribution
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John F. Rasor Executive Vice President - Wood Procurement, Gypsum and Industrial Wood
Products
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Lee M. Thomas Executive Vice President - Paper and Chemicals
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Patrica A. Barnard Senior Vice President - Human Resources
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James E. Bostic, Jr. Senior Vice President - Environmental, Government Affairs and Communications
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James F. Kelley Senior Vice President - Law and General Counsel
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James E. Terrell Vice President and Controller
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Charles H. Williams Vice President - Information Resources
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