2014

Unisource Receives Offer From Georgia Pacific

    BERWYN, Pa., May 10 /PRNewswire/ -- Unisource Worldwide, Inc. (NYSE:   UWW)
 today announced that, on Friday, May 7, 1999, it received an unsolicited
 written proposal from Georgia-Pacific Corporation (NYSE:   GP) to acquire
 Unisource at a price of $12 per share in cash.  The offer has been approved by
 G-P's Board of Directors and is not subject to any financing contingencies.
     Unisource said that at a meeting held today, its Board of Directors
 authorized management to begin discussions with Georgia-Pacific concerning its
 proposal.  Unisource said that it could provide no assurance that the proposal
 from Georgia-Pacific would lead to an agreement on a transaction between the
 two companies.
     On February 28, 1999, Unisource entered into a merger agreement with UGI
 Corporation pursuant to which Unisource stockholders would receive .566 shares
 of UGI common stock for each of their shares of Unisource common stock.  The
 UGI transaction is pending.
     Unisource does not intend to comment further on any potential transaction
 with Georgia-Pacific until either a definitive agreement has been approved by
 the Boards of Directors of both companies or discussions are terminated.
     Donaldson, Lufkin & Jenrette is advising Unisource with respect to the UGI
 transaction and the Georgia-Pacific proposal.
     Unisource Worldwide, Inc. (http://www.unisourcelink.com), headquartered in
 Berwyn, Pennsylvania, is one of the largest distributors of paper products,
 packaging materials and maintenance supplies in North America.  Fiscal 1998
 revenues were $7.4 billion.
 
 

SOURCE Unisource Worldwide, Inc.
RELATED LINKS
http://www.gp.com

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

 

PR Newswire Membership

Fill out a PR Newswire membership form or contact us at (888) 776-0942.

Learn about PR Newswire services

Request more information about PR Newswire products and services or call us at (888) 776-0942.