Georgia Pac (NYSE:GP)
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Koch Industries, Inc. today announced that on Friday it
filed the necessary merger submission with the European Commission
under the EC merger control rules set forth in Council Regulation (EC)
No. 139/2004.
Koch Industries filed the merger submission on behalf of Koch
Forest Products, Inc., its indirect wholly owned subsidiary, in
connection with the previously announced tender offer by Koch Forest
Products for all outstanding shares of Georgia-Pacific Corporation
(NYSE:GP) at a price of $48.00 net per share in cash.
Unless the European Commission requests additional information or
that commitments be made, or elects to extend its review to a phase-II
investigation, it has 25 working days to complete its review.
Accordingly, the standard phase-I review period by the European
Commission will expire on December 23, 2005.
About Georgia-Pacific
Headquartered at Atlanta, Georgia-Pacific is one of the world's
leading manufacturers and marketers of tissue, packaging, paper,
building products and related chemicals. With 2004 annual sales of
approximately $20 billion, the company employs 55,000 people at more
than 300 locations in North America and Europe. Its familiar consumer
tissue brands include Quilted Northern(R), Angel Soft(R), Brawny(R),
Sparkle(R), Soft 'n Gentle(R), Mardi Gras(R), Vanity Fair(R) and
Lotus(R), as well as the Dixie(R) brand of disposable cups, plates and
cutlery. Georgia-Pacific's building products manufacturing business
has long been among the nation's leading supplier of building products
to lumber and building materials dealers and large do-it-yourself
warehouse retailers. For more information, visit www.gp.com.
About Koch Industries
Koch Industries, Inc., based in Wichita, Kan. (www.kochind.com),
owns a diverse group of companies engaged in trading, operations and
investments worldwide, including a presence in 50 countries in such
core industries as trading, petroleum, chemicals, energy, fibers,
fertilizers, pulp and paper, ranching, securities and finance.
This announcement is neither an offer to purchase nor a
solicitation of an offer to sell securities. The tender offer is being
made pursuant to a Tender Offer Statement on Schedule TO (including
the Offer to Purchase, Letter of Transmittal and other related tender
offer materials) filed by Koch Forest Products and Koch Industries
with the SEC on November 17, 2005. In addition, on November 17, 2005,
Georgia-Pacific filed a Solicitation/Recommendation Statement on
Schedule 14D-9 with the SEC related to the tender offer. The Tender
Offer Statement (and related materials) and the
Solicitation/Recommendation Statement contain important information
that should be read carefully before any decision is made with respect
to the tender offer. Those materials may be obtained for free upon
request to Georgeson Shareholder Communication Inc., the information
agent for the tender offer, at 17 State Street, 10th Floor, New York,
New York 10004, or by calling toll free at 888-867-6856. In addition,
all of those materials (and all other offer documents filed with the
SEC) are available for free on the SEC's website at www.sec.gov.
Forward-Looking Statements: Any statements made regarding the
proposed transaction between Koch Industries, Inc. and Georgia-Pacific
Corporation, the expected timetable for completing the transaction,
successful integration of the business, benefits of the transaction,
earnings, the maintenance of Georgia-Pacific's headquarters in Atlanta
and any other statements contained in this news release that are not
purely historical fact are forward-looking statements, within the
meaning of the Private Securities Litigation Reform Act of 1995, that
are based on management's beliefs, certain assumptions and current
expectations. These statements may be identified by their use of
forward-looking terminology such as the words "expects," "projects,"
"anticipates," "intends" and other similar words. Such forward-looking
statements involve risks and uncertainties that could cause actual
results to differ materially from those projected. These risks and
uncertainties include, but are not limited to, general economic,
business and market conditions and the satisfaction of the conditions
to closing of the proposed transaction. For a more complete discussion
of certain of the risks and uncertainties that could cause actual
results to differ from those contained in the forward-looking
statements, the discussion of risks and uncertainties in the
Georgia-Pacific 2004 10-K and other SEC filings. The forward-looking
statements contained in this news release are made as of the date
hereof, and we do not undertake any obligation to update any
forward-looking statements, whether as a result of future events, new
information or otherwise.