133 Peachtree Street Northeast
Atlanta, Georgia 30303
(404) 652-4000
News from Georgia-Pacific
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Release No. C-1604
August 31, 2000
GEORGIA-PACIFIC AND FORT JAMES RECEIVE
HART-SCOTT-RODINO REQUEST FOR ADDITIONAL INFORMATION
ATLANTA, Ga., and DEERFIELD, Ill. - Georgia-Pacific Corp. (NYSE: GP) and Fort
James Corp. (NYSE: FJ) jointly said today that, as anticipated, they have
received a request from the U.S. Department of Justice for additional
information under the Hart-Scott-Rodino Antitrust Improvements Act regarding the
proposed merger between the two companies. The companies said they intend to
respond promptly to the second request.
The second request has the effect of extending the waiting period under the
Hart-Scott-Rodino Act until 20 calendar days after both parties comply with the
request. The companies expect to complete the proposed merger in the fourth
quarter of this year.
The boards of directors of both companies announced a definitive merger
agreement on July 17 for Georgia-Pacific to acquire all outstanding shares of
Fort James in a transaction valued at approximately $11billion. Under the terms
of the agreement, Georgia-Pacific will begin an exchange offer for the Fort
James shares following the effectiveness of the registration statement filed
with the Securities and Exchange Commission.
Headquartered at Atlanta, Georgia-Pacific (www.gp.com) is one of the world's
leading manufacturers and distributors of paper and building products. Its
familiar consumer brands include Angel Soft, Sparkle, Coronet and MD tissue
products and Pacific Garden antibacterial hand soap. The company also sells
tissue products for the away-from-home market. Georgia-Pacific's building
products distribution segment has long been among the nation's leading wholesale
suppliers of building products to professional builders and contractors,
hardware stores and large do-it-yourself warehouse retailers. In addition,
Georgia-Pacific is the nation's largest producer of structural wood panels and
second largest producer of lumber and gypsum wallboard. With 1999 sales of $17.8
billion, the company employs approximately 55,000 people at more than 500
locations in North America.
Fort James (www.fortjames.com) is a leading international consumer products
company, serving consumers both at home and away-from-home with bathroom and
facial tissue, paper towels, napkins, cotton pads, cups, plates, cutlery and
food wrap products. The company's popular brands include Quilted Northern, Soft
'N Gentle, Brawny, Mardi Gras, So-Dri, Vanity Fair and Dixie in North America,
and Lotus, Okay, Embo, Colhogar, Tenderly, KittenSoft, Delica and Demak'Up
in Europe. With 1999 sales of $6.8 billion, the company has approximately 50
manufacturing facilities principally located in the U.S., Canada and Europe.
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Media
Contacts: Ken Haldin / Georgia-Pacific
(404) 652-6098
Greg Guest / Georgia-Pacific
(404) 652-4739
Mark Lindley / Fort James
(847) 317-5280
Analyst
Contacts: Richard Good / Georgia-Pacific
(404) 652-4720
Celeste Gunter / Fort James
(847) 317-5355
