INTERNATIONAL PAPER CO /NEW/
8-K, 2000-05-19
PAPER MILLS
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<PAGE>

                       SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549


                                    FORM 8-K


               Current Form Pursuant to Section 13 or 15 (d) of
                     The Securities Exchange Act of 1934


                                  May 18, 2000
             ------------------------------------------------------
                Date of Report (Date of Earliest Event Reported)


                           INTERNATIONAL PAPER COMPANY
             ------------------------------------------------------
             (Exact name of Registrant as specified in its charter)


       New York                      1-3157                     13-0872805
- ------------------------        -----------------         ----------------------
(State of Incorporation)        (Commission File)             (IRS Employer
                                                          Identification Number)


                   Two Manhattanville Road, Purchase, NY 10577
                   -------------------------------------------
                    (Address of Principal executive offices)


                                  914-397-1500
                                 ---------------
                                 (Telephone No.)

<PAGE>

                       SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549



ITEM 1.     CHANGES IN CONTROL OF REGISTRANT

            N/A

ITEM 2.     ACQUISITION OR DISPOSITION OF ASSETS

            N/A

ITEM 3.     BANKRUPTCY OR RECEIVERSHIP

            N/A

ITEM 4.     CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT

            N/A

ITEM 5.     OTHER EVENTS

            The Company announced in a press release that the 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.

ITEM 6.     RESIGNATIONS OF REGISTRANT'S DIRECTORS

            N/A

ITEM 7.     FINANCIAL STATEMENTS AND EXHIBITS

            (a)   Financial Statements:  N/A


            (b)   Pro Forma Financial Information:  N/A


            (c)    Exhibits

                  (99) Press Release dated May 18, 2000.


ITEM 8.     CHANGES IN FISCAL YEAR

            N/A

<PAGE>

                                    SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.



                                    INTERNATIONAL PAPER COMPANY
                                    (Registrant)



Date: May 19, 2000                  /s/ CAROL M. SAMALIN
      Purchase, NY                  -------------------------------
                                    Carol M. Samalin
                                    Assistant Secretary




<PAGE>

                                                                    Exhibit 99.1

                                                         2 MANHATTANVILLE ROAD
                                                         PURCHASE, NY 10577-2196

NEWS RELEASE

MEDIA CONTACT:             Jack Cox, 914-397-1952

ANALYST CONTACTS:          Carol Tutundgy, 914-397-1632
                           Rochelle Weitzner, 914-397-1623

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.

                                      ####

[INTERNATIONAL PAPER LOGO]


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