Champion International Corporation Receives $75 Per Share Offer From International Paper Company.Business Editors STAMFORD Stamford, town, England Stamford, town (1991 pop. 18,127), in the Parts of Kesteven, Lincolnshire, E central England, on the Welland River. It is a market town. Products include diesel engines, electrical equipment, bricks, and tiles. , Conn.--(BUSINESS WIRE)--May 10, 2000 Champion International Corporation (NYSE NYSE See: New York Stock Exchange :CHA n. 1. Tea; - the Chinese (Mandarin) name, used generally in early works of travel, and now for a kind of rolled tea used in Central Asia. A pot with hot water . . . made with the powder of a certain herb called chaa, which is much esteemed. - Tr. J. ) said it has received a $75 per share acquisition proposal from International Paper Company. If the proposal is accepted by Champion, International Paper will make a $75 per share cash tender offer for two-thirds of the outstanding Champion shares, to be followed by a merger in which each remaining share will be converted into International Paper common stock with a market value of $75. However, if International Paper common stock is trading at less than $34.50 per share at the time of the merger, each remaining Champion share would be converted into 2.17391 International Paper shares. "We are pleased that International Paper recognizes the value inherent in Champion," said Gael Doar, a Champion spokesperson. "Our Board has determined that the International Paper proposal is superior to the proposal from UPM-Kymmene." Champion noted that it cannot terminate Terminate (terminat.exe) was a shareware modem terminal and host program for MS-DOS and compatible operating systems developed from the early to the late 1990s by the Dane Bo Bendtsen. The last release (5. its merger agreement with UPM-Kymmene and accept the International Paper proposal until after 5:00 p.m. Eastern Daylight For other uses, see Daylight (disambiguation). Daylight or the light of day is the combination of all direct and indirect sunlight outdoors during the daytime (and perhaps twilight). Time on May 12, 2000. Consistent with its original agreement with Champion, UPM-Kymmene may submit a proposal that is superior to the International Paper proposal prior to that time. |
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